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23rd August 2017, 12:01 PM
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Join Date: Aug 2012
Re: Indian Economic Services Examination

As you are looking for Past Year Question Papers of Indian Economic Services Examination, so I am providing question paper:

Indian Economic Services Examination Question Paper - General Economics -I

Answer all of the following six parts in about 100 wordseach:

1. (a) Define substitution effect. Separate incomeeffect from substitution effect for a fall in theprice of a Giffen type good using a suitablediagram. 5

(b) Show that if the consumer is free from moneyillusion, the demand function is homogeneousof degree zero. 5

(c) Give the different views of equity and useutility possibility frontier to show that efficiency does not necessarily imply equity. 5

(d) State the assumptions of Classical LinearRegression Model. Why are the regressors (X) assumed to be non-stochastic in repeatedsamples ? 5

(e) For the Cobb-Douglas production functionQ = A L a K^ (where symbols have usual
meaning), calculate the input elasticities ofoutput and also derive an expression for the
expansion path of the firm. 5

(f) Define level of significance. How is this leveldecided for a given problem ? Can we take it as2% or 6% ? Explain. 5

Last edited by pawan; 23rd August 2017 at 12:04 PM.

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