JNKVV & RVSKVV PhD Agricultural Economics Entrance Exam 2024

JNKVV & RVSKVV PhD Agricultural Economics Entrance Exam 2024

Q1. The shape of indifference curve is?

• Convex to origin
• Concave to origin
• Hyperbola
• U shape

Answer

Q2. Too much money chasing too few goods refers to?

• Cost push inflation
• Sporadic inflation
• Demand pull inflation
• Decrease in demand

Answer

Q3. If the tax rate is same irrespective of level of income, it is called?

• Progressive taxation
• Degressive taxation
• Regressive taxation
• Proportional taxation

Answer

Q4. In perfect competition, the shape of demand curve is?

• Parallel to X-axis
• Parallel to Y-axis
• Convex to origin
• Downward sloping from left to right

Answer

Q5. The supply curve of perishable commodity is?

• Horizontal to X-axis
• Vertical to X-axis
• Covex to origin
• Concave to origin

Answer

Q6. If goods can be put to several uses, it’s elasticity of demand is?

• >1
• <1
• 1
• Zero

Answer

Q7. Kinked demand curve is an important feature of?

• Monopoly
• Oligopoly
• Perfect competitive
• Duopoly

Answer

Q8. Reorganization of resources is not possible in? of production function?

• I zone
• II zone
• III zone
• I and III zone

Answer

Q9. The line connecting equal slopes is called?

• Isoquant
• Isocline
• Production possibility curve
• Budget line

Answer

Q10. The shape of total product curve in case of decreasing returns is?

• Inverse S shape
• Convex to origin
• Linear
• Concave to origin

Answer

Q11. Loans advanced to agro-based firms by the banks are called as ?

• Indirect loans
• Direct loans
• Key loans
• Open loans

Answer

Q12. To estimate the risk bearing ability of the farmer-borrower, gross returns are ?

• Inflated
• Deflated
• Distended
• Dilated

Answer

Q13. Which of the following correspond to market structure?

• Concentration ratio
• Profit generated by firms
• Pricing efficiency
• Allocative efficiency

Answer

Q14. To obtain more revenue the government should tax those commodities whose demand is?

• Inelastic
• Elastic
• Perfectly elastic
• Relatively elastic

Answer

Q15. If the rate of inflation is more than three percent per annum, it is called?

• Creeping inflation
• Walking inflation
• Running inflation
• Hyper inflationn

Answer

Q16. When the estimated slope coefficient in the simple regression model β^{^}1, is zero, then?

• r² = Y
• 0 ≤r² ≤1
• r² = 1
• r²= 0

Answer

Q17. A hypothesis such as H0: β2 = β3 = 0, can be tested using?

• t-test
• Jarque-Bera test
• Z test
• F-test

Answer

Q18. When comparing r² of two regression models, the models should have the same?

• Independent variables
• Dependent variable
• Error term
• Beta coefficients

Answer

Q19. If multicollinearity is perfect in a regression model the standard errors of the regression coefficients are?

• Determinate
• Finite values
• Infinite values
• Small negative values

Answer

Q20. Heteroscedasticity is more likely a problem of?

• Cross-sectional data
• Time series data
• Pooled data
• Panel data

Answer

Q21. Durbin-Watson d-statistics value ranges from?

• 0 to 2
• 2 to 4
• 0 to 4
• 4 ± 2

Answer

Q22. The most appropriate method for estimation of over-identified simultaneous equation model is?

• OLS
• GLS
• 2SLS
• ILS

Answer

Q23. The process of obtaining information about an entire population by examining only a part of it is called?

• Census
• Complete Enumeration
• Sampling
• Census Survey

Answer

Q24. Rejection of H0 when it is true is called?

• Type I error
• Type II error
• Sampling error
• Standard error

Answer

Q25. When the sample size is less than equal to 30 and population variance is not known ____ test is used?

• Z test
• F test
• Student t test
• Chi-square test

Answer

Q26. If the fitted regression equation is Ŷi = – 12 + 0.5 X, then what is the value of the residual at the point X = 50, Y = 70?

• 57
• -57
• 0
• 33

Answer

Q27. What is the number of degrees of freedom for a simple bivariate linear regression with 100 observations?

• 100
• 97
• 98
• 2

Answer

Q28. Multiple coefficient of determination measures the ? of multiple regression model?

• Goodness of fit
• Sample adequacy
• Heteroscedasticity
• Multicollinearity

Answer

Q29. Dummy variables classify the data into?

• Inclusive categories
• Mutually exclusive categories
• Overlapping categories
• Infinite number of categories

Answer

Q30. The shape of isoquant in case of perfect complements is?

• Convex to origin
• Concave to the origin
• ‘L’ shaped
• Linear

Answer

Q31. Least cost combination of two resources is determined at the point where?

• MRTS = Price ratio
• MRPS = Price ratio
• MR = MC
• MVP = MIC

Answer

Q32. The profit maximizing level of output is at where?

• MVP = AFC
• TR = TC
• MR = MC
• MRTS = PR

Answer

Q33. Factor-factor relationship deals with?

• Resource combination and substitution
• Resource allocation between products
• Resource use efficiency
• Resource administration

Answer

Q34. Linear programming technique is used for solving the problem of?

• Halmonization
• Optimization
• Statistical estimation
• Randomization

Answer

Q35. Optimum enterprise combination is the goal of?

• Factor-product relationship
• Factor-factor relationship
• Product-product relationship
• Returns to scale

Answer

Q36. An example of choice indicator is?

• Quick ratio
• Liquidity ratio
• Substitution ratio
• Solvency ratio

Answer

Q37. Within the ridge lines, products are?

• Supplementary
• Complementary
• Competitive
• Antagonistic

Answer

Q38. The line connecting the points of least cost combination for different levels of output is called?

• Isoquant
• Isocline
• Ridge line
• Expansion path

Answer

Q39. The cost of self owned and self employed resources is termed as?

• Explicit cost
• Nominal cost
• Implicit cost
• Real cost

Answer

Q40. The founder of Physiocracy is?

• Adam Smith
• Francois Quesnay
• Richard Cantillon
• David Ricardo

Answer

Q41. Economic Table is an outstanding contribution of?

• Adam Smith
• Francois Quesnay
• Richard Cantillon
• David Ricardo

Answer

Q42. The phrase “supply creates its own demand” is commonly known as?

• Adam’s law
• Keynes law
• Say’s law
• Marshall’s law

Answer

Q43. The term “classical economics” was coined by?

• Karl Marx
• Adam Smith
• Alfred Marshall
• John Maynard Keynes

Answer

Q44. The school of economic thought arose in England during the 16th – 18th centuries was?

• Classical
• Neoclassical
• Monetarism
• Mercantilism

Answer

Q45. The system of economic thought developed in France during middle of the 18th century was?

• Physiocracy
• Classsical
• Neoclassical
• Mercantilism

Answer

Q46. The founder of statistical method is?

• William Petty
• Richard Cantillon
• Francis Bacon
• Jean Baptiste Colbert

Answer

Q47. The Land Theory of Value was proposed by?

• Adam smith
• Aristotle
• Richard Cantillon
• Boisguilbert

Answer

Q48. Social structure of the medieval period was raised on the foundation of?

• Feudalism
• Capitalism
• Idealism
• Individualism

Answer

Q49. The first writer to use the term ‘Political Economy’ is?

• Thomas Aquinos
• David Hume
• William Petty
• James Steuart

Answer

Q50. Dialectic materialism is a cornerstone of?

• Marxism
• Socialism
• Communism
• Capitalism

Answer

JNKVV & RVSKVV PhD Agricultural Economics Entrance Exam 2024

Q51. The concept “Demand creates its own supply” is most consistent with?

• Marginalist theory
• Keynesian theory
• New classical macroeconomics
• Modern monetarism

Answer

Q52. Resources which are used together in fixed proportions are called?

• Substitutes
• Perfect complements
• Perfect substitutes
• Joint products

Answer

Q53. A state of being ignorant about future events, which cannot be foreseen exactly is known as?

• Uncertainty
• Risk
• Differential risk
• Apriori risk

Answer

Q54. For profit maximization a rational producer should operate in the range when two products are?

• Complementary
• Supplementary
• Joint products
• Competitive

Answer

Q55. The marginal rate of product substitution between the competitive products is?

• Positive
• Negative
• Zero
• One

Answer

Q56. In classical linear regression model, X_i and u_i are?

• Positively correlated
• Negatively correlated
• Highly correlated
• Not correlated

Answer

Q57. In double log regression model, the regression slope gives?

• The relative change in Y for an absolute change in X
• The percentage change in Y for a given percentage change in X
• The absolute change in Y for a percent change in X
• By how many units Y changes for a unit change in X

Answer

Q58. A specific tax on sellers will?

• Shift the demand curve to the right
• Shift the demand curve to the left
• Shift the supply curve to the right
• Shift the supply curve to the left

Answer

Q59. When two goods are substitutes, a shock that raises the price of one good causes the price of the other good to?

• Remain unchanged
• Decrease
• Increase
• Change in an unpredictable manner

Answer

Q60. Government prohibition of advertising any good on television would most likely result in?

• A rightward shift in the demand curve for good
• A leftward shift in the demand curve for good
• A rightward shift in the demand curve for television advertising time
• No change in the market for either good or television advertising

Answer

Q61. Assets and liabilities of a business are classified based on their?

• Turnover
• Profitability
• Liquidity
• Investment

Answer

Q62. The ratio that measures the short term solvency of a business firm is?

• Net capital ratio
• Current ratio
• Gross ratio
• Benefit cost ratio

Answer

Q63. The CPI of a nation with 1990 as base year was 232. This means that the cost of purchasing market basket of goods and services has changed by?

• Increased by 132 percent since 1990
• Increased by 232 percent since 1990
• Decreased by 132 percent since 1990
• Decreased by 232 percent since 1990

Answer

Q64. Which of the following components is not taken into account while calculating national income by expenditure method?

• Household consumption
• Investiment expenditure
• Purchase of shares and bonds
• Government expenditure

Answer

Q65. Which of the following is not required while calculating Gross National Product (GNP)?

• Per capital income of Citizens
• Private Investments
• Net Foreign Investments
• Purchase of Goods and Services

Answer

Q66. Which of the following is associated with the term deflation in economy?

• Decrease in the supply of coins and currency notes
• Decrease in the money relating to the supply of goods and services
• Decrease in the supply of goods and services
• Decrease in the import of goods and services

Answer

Q67. Most important source of capital formation in India has been?

• Public sector savings
• Household savings
• Government revenue surpluses
• Corporate savings

Answer

Q68. Which among the following is a qualitative tool of monetary policy?

• Credit Rationing
• Cash Reserve Ratio
• Credit Ceiling
• Bank Rate

Answer

Q69. Most pertinent problem while computing national income is?

• Non-monetized consumption
• Inflation
• Low savings
• Under employment

Answer

Q70. As the level of interest rates in the economy falls, the demand for money, ceteris paribus?

• Will remain unchanged
• Will increase
• Could move in either direction depending on other factors
• Will fall more or less in line with the change in interest rates

Answer

Q71. To avoid double counting when GDP is estimated, economists?

• Use retail prices
• Use price of only intermediate goods
• Calculate value added at each stage of production
• Use GDP deflator

Answer

Q72. How many rows are there in Simplex tableau when there are two constraints of less than equal to type in problem?

• Five
• Four
• Three
• Two

Answer

Q73. If there are ‘m’ original variables and ‘n’ introduced variables, then there will be ‐‐‐‐‐‐‐‐‐‐‐‐‐ columns in the simplex table

• M + n
• M – n
• 3 +m + n
• M + n – 1

Answer

Q74. Which technique is used in finding a solution for optimizing a given objective, such as profit maximization or cost minimization under certain constraints?

• Quencing
• Waiting line
• Queing theory
• Linear programming

Answer

Q75. Dual of the dual is the?

• Primal
• Dual
• Either primal or dual
• Infinite

Answer

Q76. A variable which has no physical meaning but is used to obtain an initial basic feasible solution to the linear programming problem is referred as?

• Basic variable
• Artificial variable
• Non-basic variable
• Slack variable

Answer

Q77. The term “Utility” is introduced by?

• Adam Smith
• Daniel Bernoulli
• Alfred Marshall
• Philip Kotler

Answer

Q78. Which is not a correct assumption for the law of variable proportions?

• Only one factor is variable while others are held constant
• There is no change in technology
• It assumes a long-run situation
• It is possible to vary the proportions in which different inputs are combined

Answer

Q79. The General Equilibrium analysis was developed by?

• Marshall
• Ricardo
• Walras
• Adam Smith

Answer

Q80. Which of the following agency is responsible for formulating the Fiscal Policy in India?

• Securities and Exchange Board of India (SEBI)
• Reserve Bank of India (RBI)
• Ministry of Finance, Government of India
• National Bank for Agricusltural and Rural Development (NABARD)

Answer

Q81. Which of these organisations emphasises on the liberalisation of foreign investment and foreign trade?

• Food and Agriculture Organization
• World Health Organization
• World Trade Organisation
• International Labour Organisation

Answer

Q82. What is the name of tariff levied on imported goods to offset subsidies given to producers of the goods in exporting country?

• Countervailing Duty
• Anti-Dumping Duty
• Safeguard Duty
• Protective Duty

Answer

Q83. Which institution launched the ‘Antardrishti’ dashboard?

• NITI Aayog
• RBI
• SEBI
• NPCI

Answer

Q84. The concept of supply chain management originated in?? discipline.

• Production management
• Logistics management
• Marketing management
• Operations management

Answer

Q85. Integrated scheme for Agricultural Marketing was started in?

• Sept, 2015
• April, 2014
• Sept, 2014
• April, 2015

Answer

Q86. In what ratio is the expenditure of the MGNREGA scheme shared between the center and the state?

• 90:10
• 50:50
• 75:25
• 25:75

Answer

Q87. Self-help groups were introduced in?

• 1982
• 1996
• 1992
• 1988

Answer

Q88. In PMFBY, the uniform premium rate to be paid by the farmers for annual commercial crops is?

• 1.5 percent
• 2 percent
• 5 percent
• 4 percent

Answer

Q89. Under Kisan Credit Card Scheme, the amount given for permanent disability and death of farmer is?

• Rs 25000
• Rs 60000
• Rs 100000
• Rs 50000

Answer

Q90. How much amount will be provided per year to small and marginal farmer families under Pradhan Mantri Kisan Samman Nidhi Scheme?

• Rs 5000
• Rs 6000
• Rs 4000
• Rs 3000

Answer

Q91. In a balance sheet, the total of common stock and retained earnings are denoted as?

• Common equity
• Due equity
• Preferred equity
• Commong perpetuity

Answer

Q92. Current assets are also known as?

• Cash
• Assets
• Invested capital
• Working capital

Answer

Q93. Which one of the following gives a review on the profitability of a business?

• Statement of changes in equity
• Cash flow statement
• Balance sheet
• Income statement

Answer

Q94. The elasticity of demand for a perfectly elastic good is?

• Zero
• Infinite
• One
• Less than one

Answer

Q95. According to cardinal utility approach, when a consumer purchases more units of a commodity, its marginal utility?

• Increases
• Decreases
• Remains same
• Becomes zero

Answer

Q96. The sum of present values of net benefits during the life period of the project is given by?

• NPV
• IRR
• PBP
• BCR

Answer

Q97. Total assets of a business firm are equal to?

• Total liabilities + Owner’s equity
• Total assets + Owner’s equity
• Current assets + Owner’s equity
• Current liabilities + Owner’s equity

Answer

Q98. The break even point of firms is at?

• MR = MC
• TR = TC
• MVP = MFC
• MRTS = PR

Answer

Q99. The lowest significance level at which a null hypothesis can be rejected is determined by?

• t-value
• p-value
• Significance test
• Confidence interval

Answer

Q100. If in a regression model, one of the explanatory variables included is the lagged value of the dependent variable, then the model is referred to as?

• Best fit model
• Box-Cox regression
• Autoregressive model
• First difference form

Answer

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