RKG INSTITUTE by CA PARAG GUPTA

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RKG MOCK TEST 2

Class 11 - Economics
Time Allowed: 3 hours Maximum Marks: 80

General Instructions:

1. This question paper contains two sections:

Section A – Micro Economics

Section B – Statistics

2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.

3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered in 60 to 80 words.

4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered in 80 to 100 words.

5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered in 100 to 150 words.

Section A
1. Assertion (A): Arun purchased a car from Bharat Automobiles. [1]
Reason (R): Arun is a consumer as he was the reason of the economic activity performed.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

2. Laspayer's index is based on [1]

a) Base year quantities b) None of these

c) Current year quantities. d) Average of current and base year

3. If the scatter points are widely dispersed around the line, the correlation is [1]

a) low b) None of these

c) high d) moderate
4. Taking 1999 as base year calculate index number of the year 2000 [1]

Year 1999 2000 2001 2002 2003 2004

Price (Rs) 10 14 16 20 22 24

a) 160 b) 130

c) 140 d) 150
5. Consumer Price Index number for the year 1957 was 313 with 1940 as the base year, the average monthly wages [1]
in 1957 of the workers in a factory was Rs.160. Their real wage is

a) 48.40 b) 40.30

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 c) 51.12 d) None of these
6. Paasche index is based on [1]

a) Average of current and base year b) Current year quantities.

c) Base year quantities d) None of these

7. Which of the following will give qualitative data [1]

a) All of these b) Income earned

c) Marks in subject d) Beauty

8. The effect of data on mind through Tabulation: [1]

a) All of these b) Hypothetical

c) Temporary d) Permanent
9. P01 is the index for time [1]

a) 0 on 0 b) 0 on 1

c) 1 on 0 d) I on 1
10. Calculate Karl Pearson’s coefficient of correlation on the following data: [1]

X 15 18 21 24 27 30 36 39 42 48

Y 25 25 27 27 31 33 35 41 41 45

a) 0.75 b) 0.45

c) 0.89 d) 0.98
11. The Consumer price index in India is continuously rising over the year 2012 and 2013. Which value is [3]
compromised with the rising wholesale price index?
12. Mean marks obtained by 100 students are estimated to be 40. Later on it is found that one value was read as 83 [3]
instead of 53. Find out the 'corrected' mean.
13. The marks obtained by 25 students in a class are as follows: [4]
22, 28, 30, 32, 35, 37, 40, 41, 43, 44, 45, 45, 48, 49, 52, 53, 54, 56, 56, 58, 60, 62, 65, 68, 69
i. Arrange the above data in the form of a frequency distribution taking class interval. 20-29, 30-39, 40-49, 50-
59, 60-69
ii. Form the less than cumulative frequency distribution also.
14. Construct a pie diagram to represent the cost of construction of a house in Delhi. [4]

Items Expenditure (in %)

Labour 25

Bricks 15

Cement 20

Steel 15

Timber 10

Supervision 15

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15. What is a pilot Survey? What is its objective? [4]
16. From the data given below, calculate Karl Pearson’s coefficient of correlation between density of population and [6]
death rate by step deviation method.

Region Area(in sq km) Population Death

A 200 40000 480

B 150 75000 1200

C 120 72000 1080

D 80 20000 280

17. From the given series, find the value of median graphically with the help of : [6]
i. Less than ogive
ii. More than ogive
iii. More than and less than ogives

Wages (in Rs.) Number of Workers

0-5 4

5-10 6

10-15 10

15-20 10

20-25 25

25-30 24

30-35 20

35-40 1

Section B
18. A straight line supply curve cuts the Y-axis in its negative range. What is the elasticity of supply? [1]

a) perfectly inelastic b) unitary elastic

c) highly elastic d) less elastic

19. Output of Good-X decreases by 500 units and output of Good-Y increases by 500 units, when some resources [1]
are shifted from the production of Good-X to production of Good-Y. The marginal opportunity cost is:

a) 0.75 b) 0.8

c) 1.0 d) 0.2
20. In the situation of market equilibrium: [1]

a) market demand = market supply b) none of these

c) market demand > market supply d) market demand < market supply
21. The relationship between AR and MR when price is constant is [1]

a) AR> MR b) The values increase

c) The values decrease d) The values are same

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22. AFC curve never touches ‘x’ axis though it lies very close to x axis because [1]

a) AFC is always vertical b) AFC can never be zero as TFC can never be
zero

c) AFC is horizontal d) AFC curve can never be extended to touch

zero with increase in output
23. Assertion (A): Tea and coffee are related goods. [1]
Reason (R): Goods are said to be related when demand for one changes in response to changes in the price of
the other.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

24. The break- even point where TR=TC, the firm earns normal profits only [1]

a) Can’t say b) Yes

c) None of these d) No
25. Which of the following statements is appropriate in case of monopoly? [1]

a) Slope of both AR and MR curves is b) Slope of both AR and MR curves is

upwards downwards and MR curve is below AR

c) Slope of both AR and MR curves is d) AR curve slopes upward while MR curve

downwards and MR curve is above AR slopes downward
curve
26. Per unit cost of a good is called: [1]

a) none of these b) fixed cost

c) variable cost d) average cost

27. In perfect competition, which of the following curves generally lies below the demand curve and slopes [1]
downward?

a) Marginal revenue b) Marginal cost

c) Average cost d) Average revenue

28. Define marginal opportunity cost along with a PPC. [3]
29. When equilibrium price of a good is less than its market price, there will be competition among the sellers. [3]
Explain.
30. Explain the difference between ‘change in demand’ and ‘change in quantity demanded’. [4]
31. From the following schedule, find out the level of output, at which the producer is in equilibrium. Give reason [4]
for your answer.

Output (units) Price (Rs) Total Cost (TC in Rs)

1 24 26

2 24 50

3 24 72

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 4 24 92

5 24 115

6 24 139

7 24 165

32. What are the assumptions on which law of Diminishing Marginal Utility is Based? [4]
33. Complete the following table: [6]

Marginal Product
Units of Labour Average Product (Units)
(Units)

1 8 -

2 10 -

3 - 10

4 9

5 - 4

6 7 -

34. Answer the following questions [6]

(a) When price of a commodity falls by Rs 1 per unit, its quantity demanded rises by 3 units. Its Price [3]
Elasticity of Demand is (-) 2. Calculate its quantity demanded if the price before change was Rs 10
per unit.
(b) A consumer buys 5 units of good at a price of Rs.4 per unit. When price falls to Rs.3 per unit, he buys [3]
10 units. Calculate price elasticity of demand.

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