This Paper has

**62**answerable questions with**0**answered.Roll No……… | |

Time allowed : 3 hours | Maximum marks : 100 |

Total number of questions : 8 | Total number of printed pages : 8 |

PART – A |

(Answer Question No.1 which is compulsory and any two of the rest from this part.) |

1. | (a) | State, with reasons in brief, whether the following statements are true or false : | ||||||||||||

(i) | Negative income elasticity for a product would indicate that the product is an inferior product. | (0) | ||||||||||||

(ii) | Each firm in the monopolistic competition has a downward sloping demand curve. | (0) | ||||||||||||

(iii) | Purchasing power of money increases with increase in prices. | (0) | ||||||||||||

(iv) | Fiscal deficit is same as budgetary deficit. | (0) | ||||||||||||

(v) | WTO helps member nations in the settlement of their political disputes. | (0) | ||||||||||||

(2 marks each) | ||||||||||||||

(b) | Write the most appropriate answer from the given options in respect of the following: | |||||||||||||

(i) | Tourism industry is an example of–
| (0) | ||||||||||||

(ii) | When marginal product is zero, the total product is –
| (0) | ||||||||||||

(iii) | Contraction in demand of a commodity is the result of –
| (0) | ||||||||||||

(iv) | In the national context, which of the following indicates the macro approach–
| (0) | ||||||||||||

(v) | Price discrimination is possible under –
| (0) | ||||||||||||

(1 mark each) | ||||||||||||||

(c) | How would you define ‘money’? What are the alternatives approaches while defining money? | (0) | ||||||||||||

(5 marks) | ||||||||||||||

2. | (a) | Distinguish between any three of the following: | ||||||||||||

(i) | ‘Positive economics’ and ‘normative economics’. | (0) | ||||||||||||

(ii) | ‘Supply’ and ‘stock’. | (0) | ||||||||||||

(iii) | ‘Internal diseconomies’ and ‘external diseconomies’. | (0) | ||||||||||||

(iv) | ‘Private income’ and ‘Personal income’. | (0) | ||||||||||||

(3 marks each) | ||||||||||||||

(b) | Re–write the following sentences after filling–in the blank spaces with appropriate word(s)/figure(s): | |||||||||||||

(i) | The book titled ‘An enquiry into the nature and causes of the Wealth of Nations’ was written by___________. | (0) | ||||||||||||

(ii) | Stabilisation of price–level is the objective of ____________policy. | (0) | ||||||||||||

(iii) | Commodities which are perishable in nature have__________supply. | (0) | ||||||||||||

(iv) | To a consumer, the utility of a good is the_____________which he expects from its consumption. | (0) | ||||||||||||

(v) | Net National Product = Gross National Product minus_____________. | (0) | ||||||||||||

(vi) | Physical relationship between inputs and output is known as______________. | (0) | ||||||||||||

(1 mark each) | ||||||||||||||

3. | Comment on any three of the following : | |||||||||||||

(i) | A pure capitalist economy is characterised by absence of State intervention in economic activities. | (0) | ||||||||||||

(ii) | Normally, a demand curve has a negative slope. | (0) | ||||||||||||

(iii) | For price discrimination to be successful, certain conditions have to be fulfilled. | (0) | ||||||||||||

(iv) | Economic welfare is closely related to composition and distribution of national income. | (0) | ||||||||||||

(5 marks each) | ||||||||||||||

4. | Attempt any three of the following : | |||||||||||||

(i) | What do you mean by ‘disequilibrium’ in balance of payments? What steps could be taken to overcome it? | (0) | ||||||||||||

(ii) | Describe briefly the objectives and tools of fiscal policy. | (0) | ||||||||||||

(iii) | Discuss in brief the functions of the Reserve Bank of India. | (0) | ||||||||||||

(iv) | What is World Trade Organisation (WTO)? State the objectives and principles of WTO trading system. | (0) | ||||||||||||

(5 marks each) |

PART – B |

(Answer Question No.5 which is compulsory and any two of the rest from this part.) |

5. | (a) | State, with reasons in brief, whether the following statements are true or false : | |||||||||||||||||||

(i) | Statistics can prove anything. | (0) | |||||||||||||||||||

(ii) | It is essential to set the series into ascending or descending order to calculate mean. | (0) | |||||||||||||||||||

(iii) | A distribution with greater co–efficient of variation is said to be more uniform. | (0) | |||||||||||||||||||

(iv) | Karl Pearson's co–efficient of correlation is not suitable for use when dealing with qualitative characteristics. | (0) | |||||||||||||||||||

(v) | Fisher’s index number is an ‘ideal index number’. | (0) | |||||||||||||||||||

(2 marks each) | |||||||||||||||||||||

(b) | Write the most appropriate answer from the given options in respect of the following: | ||||||||||||||||||||

(i) | "Statistics is a science of estimates and probabilities." This definition is given by–
| (0) | |||||||||||||||||||

(ii) | Which of the following is not secondary data–
| (0) | |||||||||||||||||||

(iii) | When both lower and upper limits are considered, such classes are called –
| (0) | |||||||||||||||||||

(iv) | Which average is suitable to study the average intelligence level –
| (0) | |||||||||||||||||||

(v) | Which of the following can also be determined by graphic method–:
| (0) | |||||||||||||||||||

(vi) | The measure of variation that is least affected by extreme observations is –
| (0) | |||||||||||||||||||

(vii) | A distribution is called symmetrical when –
| (0) | |||||||||||||||||||

(viii) | Correlation is said to be linear when–
| (0) | |||||||||||||||||||

(ix) | Which of the following indices uses only current year quantities as weights –
| (0) | |||||||||||||||||||

(x) | Which one of the following is not used in the measurement of trend –
| (0) | |||||||||||||||||||

(1 mark each) | |||||||||||||||||||||

6. | (a) | Distinguish between any three of the following: | |||||||||||||||||||

(i) | ‘Deliberate sampling’ and ‘random sampling’. | (0) | |||||||||||||||||||

(ii) | ‘Classification’ and ‘tabulation’. | (0) | |||||||||||||||||||

(iii) | ‘Direct investigation’ and ‘indirect investigation’. | (0) | |||||||||||||||||||

(iv) | ‘Historigram’ and ‘histogram’. | (0) | |||||||||||||||||||

(3 marks each) | |||||||||||||||||||||

(b) | Re–write the following sentences after filling–in the blank spaces with appropriate word(s)/figure(s) : | ||||||||||||||||||||

(i) | "Statistics may be defined as the science of collection, presentation, analysis and interpretation of numerical data."This definition has been given by_______________. | (0) | |||||||||||||||||||

(ii) | The___________provides the basis of theory of probability in statistics | (0) | |||||||||||||||||||

(iii) | Business forecasting is done with the help of___________statistics. | (0) | |||||||||||||||||||

(iv) | ____________are the values of a variable that divide a distribution in to ten equal parts. | (0) | |||||||||||||||||||

(v) | Arithmetic mean of 5, 30, 90, 800 and 6,500 is________________. | (0) | |||||||||||||||||||

(vi) | The mean of 10 observations is 35. If each observation is multiplies by 5,the changed mean will be______________. | (0) | |||||||||||||||||||

(1 mark each) | |||||||||||||||||||||

7. | Attempt any three of the following : | ||||||||||||||||||||

(a) | From the following data, draw the pie chart:
| (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(b) | Calculate Laspeyre’s, Paasche’s and Fisher’s index numbers for the following data:
| (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(c) | Find out mean deviation and its coefficient from median of the following data:
| (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(d) | From the following data related to two factories, find –
| (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

8. | Attempt any three of the following : | ||||||||||||||||||||

(a) | Write short notes on –(i) Spurious correlation: and (ii) Scatter diagram. | (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(b) | Calculate Karl Pearson’s coefficient of correlation from the following data and also interpret the result:
| (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(c) | Explain briefly the problems in the construction of index numbers. | (0) | |||||||||||||||||||

(5 marks) | |||||||||||||||||||||

(d) | Calculate trend values from the following data using least squares method and estimate the number of workers for the year 2011 :
| (0) | |||||||||||||||||||

(5 marks) |