1. In a rectangular array (matrix) of distinct positive numbers, which has m rows and n columns, let x denote the largest of the smallest number in each column [i.e., x = maximum of (xj | j ε (1, 2, …; and xj is the smallest number in column A] and y the smallest of the largest number in each row [i.e., y = minimum of y, ] i.e. 1, 2 …; m and y, is the largest number in row 1]. Then one can infer.
(a) x > y (b) y > x (c) x =y (d) None of the above
2.Current account balance of payments deficit of an open economy is
(a) deficit of foreign trade + inflow of foreign direct investment
(b) imports of goods and services -0 exports of goods and services + depletion of foreign exchange reserve
(c) imports of goods and services – exports of goods and services + external assistance and foreign commercial borrowing
(d) imports of goods and services – exports of goods and services – net remittances out of factor incomes received from abroad
3. If a.b < c.d, where a, b, c, d are non-zero numbers, then it must be that
(a) a/c < d/b (b) a/c < d/b, if a.b > 0 (c) a/c > d/b, if a.b > 0 (d) None of the above
4. Suppose X and Y are two positive valued random variables, each taking 10 values. Both have the same mean, but the variance of Y is twice the variance of X. Which of the following holds?
(a) Max (Xi) > Max (Yi) (b) Max (Xi) < Max (Yi) (c) Max (Xi) = Max (Yi)
(d) Max (Xi) < Max (Yi) (e) None of the above
5. Consider a society of two individuals in which a single commodity is produced, individual 1 getting x units and individual 2 y units of the commodity. Suppose only three outcomes are possible in any time period.
A : x = 10, y; B: x = 7, y = 5; C : x = 5, y = 12. Then
(a) society will prefer B over C (b) society will prefer C over B
(c) society will be indifferent between B and C (d) we cannot say which of (a), (b), (c) will hold.
6. We have the following data or a country:
GDP at market prices = Rs. 20,000 crore
Gross Domestic Capital Formation = Rs. 5,000 crore
Depreciation = Rs. 3,000 crore
Exports = Rs. 3,000 crore
Imports = Rs. 6,000 crore
Net invisible earnings from abroad = Rs. 2,000 crore
Indirect taxes less subsidies = Rs. 2,000 crore
The gross savings rate is –
(a) 10 per cent (b) 15 per cent (c) 20 per cent (d) 25 per cent (e) 75 per cent.
"Once you eliminate the impossible, whatever remains, no matter how improbable, must be the truth."
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