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    rey Post Graduate School (fas)y Indian Agricultural Research Institute, New Delhi Examination for Admission to Ph.D. Programme 2011-2012 Discipline : Agricultural Economics Discipline Code, : 02 Roll No| Please Note: (@ This question paper contains 14 pages. Please check whether all the pages are printed in this set. Report discrepancy, if any, immediately to the invigilator. (il) There shall be NEGATIVE marking for WRONG ariswers in the Multiple Choice type questions (No. 1 to 130) which carry one mark eack. For every wrong answer 0.25 mark will be deducted, 5. To address the problems of sustainable and PART— 1 (General Agriculture) holistic development of rainfed areas, including appropriate farming and Itvelihood Multiple choice questions (No. 1 to 30). system approaches, the Government of India Choose the correct answer (a, b, ¢ or d) has set up the and: enter your choice in the circle 2) National Rainfed Area Authority shading with @ poncll) on the OMI” | ©) Nalonal Watershed Development Project for answer sheet as per the instructions Rainfed Areas ©) National Mission on Rainfed Areas ‘Wven on the answer sheet. 4) Command Area Development and Weter 1. Which of the following crops have been Management Authority approved for commercial cuttvation nindia?” | Wien ofthe follow ing sub-schemes are not 2) Btcotton and Bt brinjal B Sign and etberya covered under the Resniia Koh vise ©) Btmaize and Bt cotton : 3) Btcotton only 9) Extending the Green Revelution to eastern b) Deve 30,000 pulses and olseed 2, This year (2010-11) the expected food grain |») Development a 60,000 pulses and olseeds production in India's ©). National Mission on Saffron a) 212 mition tonnes 220m 4) National Mission on Bamboo ©) 235 million tonnes 250 milion tonnes 7. The minimum support price for the common variety of paddy announced by the 3. The genome of which ofthe folowing crops Government of India for the year 2010-11 is etl not completely sequenced? a) 21030 2) Rice |B Shan 3 ss ©) Sorghum a) Wheat 9) 7960 8 According to the Human Development Report 2010 of the United Nations, India's tank in terms of the human development ‘4. According to the Approach Paper to the 12" Five Year Plan, the basic objective of the 12" Plan is ) Inclusive growth pie b). Sustainable growth aie ©) Faster, more inclusive and sustainable °) 169 growth 3 368 4d) Inclusive and sustainable growth ‘Subject : PRD — Agricultural Eeonomies ~ 2011 8. Which of the following does not apply to SRI method of paddy cultivation? @) Reduced water application b) Reduced plant density ) . Increased application of chemical fertilizers d) Reduced age of seedlings 10, Which organic acid, often used as a preservative, occurs naturally in cranberties, prunes, cinnamon and cloves? a) Citric acid ) Benzoie acid ) Tartaric acid @) Lactic acid 11. Cotton belongs to the family a) Cruciferae ). Anacardiaceae ©) Malvaceae d) Solanaceae 42, Photoperiodism is 8) Bending of shoot towards source of light 0) Effect of light/dark durations on physiological processes ©) Movement of chloroplast in cell in response. to light 4d) Effect of light on chlorophyll synthesis 18, Ergot disease is caused by which pathogen on which host? @) Claviceps purpurea on rye b) Puccinia recondita on wheat ©) Drechlera sorokiniana on wheat 4) Alpugo candida on mustard 14, Rocks are the chief sourcss of parent materials over which solls are developed. Granite, an important rock, is classified as a) Igneous rock b) Metamorphic rock ©) Sedimentary rack 4) Hybrid rook 15. Which one of the following Is @ Kharif erop? a) Pearl millet ») Lentil ©) Mustard 6) Wheat 16. The coefficient of variation Calculated by the formula a) (MeaniS.D.) x 100 b) (S.D/Mean) x 100 ©) S.D./Mean d) Mean/s.p. (cv) is Which of the following is commonly referred to as mutate of potash? Potassium nitrate Potassium chloride Potassium sulohate Potassium silicate Inbred tines that heve same genetic constiution but differ only at one locus are called Mutt ines Monohybrid . - Isogenic lines * Pure lines 1. For applying 100 kg of nitragen, how much Urea would oe use? 45 kg 114 kg 222 kg 333 kg . The devastating impact of plant disease on human suffering and survival was. first realized by epidemic of Brown spot of rice in Bengal Late blight of potato in USA Late blight of potato in Europe Rust of wheat in india |. The species of rice (Oryza) other than O. sativa that is cultivated Is ©. rutipugon ©. fongisteminate ©. glaberrima 0. nivara The enzyme responsible for the fixation of CO, in mesophyll cells of C-4 plants is Malic enzyme Phosphoenol pyruvate carboxylase Phosphoenol pyruvate carboxykinase RUBP carboxylase Which one of the following is a ‘Vertisor? Black cotton soit Red sandy loam soil ‘Sandy loam sodic soil 7 ‘Submontane (Tarai) soll What "is the most visible characteristic of cells in metaphase? Elongated chromosomes: Nucleus visible but chromosomes not Fragile double stranded loose chromosomes ! Condensed paired chromosomes on the cell plate physical Subject : PhD ~ Agricultural Eeonomies ~ 2011 25. All weather phenomena like rain, fog and mist occur in a) Troposphere b) Mesosphere ©) lonosphere ) Ozonosphere 28. Which of the following elements is common to ail proteins and nucleic acids? a) Sulphur b) Magnesium ©) Nitrogen d) Phosphorous 27. Slithas intermediate characteristics between a) Sand and loam b) Clay and loam ©). Loam and gravel 9), Sand and clay 28. Certified seed is produced from 2) Nucleus seed b) Breeder seed ©) Foundation seed @) Truthful seed 29. Seediess banana is an a) Autotriploid ©) Autotetraploia ©) Allotripioia 4d) Allotetraploid 30. Which one of the following is used to test the ‘goodness-of-fit of a distribution? ) Normal test b) test ©) Chi-square test d) Fetest PART - i (Subject Paper) Multiple choice questions (No. 31 to 130). Choose the correct answer (a, b, ¢ or d) and enter your cholce in the circle (by shading with a pencil) on the OMR answer sheet as per the Instructions given on the answer sheet. 91. Giffen paradox occurs when Income effect is 8) Greater than the substitution effect ) Equal to the substitution effect ©) Less than the substitution effect ©) Negative and is greater than the substitution tect 32. 1f the amounts of two commodities Purchased change as the price of one of the two commodities changes, then the cross elasticity of demand between them will be a) Negative b) Positive ©) Zero 4) One a) ») °) The degree ot monopoly power a8 defined by Rothschild is based on Price elasticity of demand Price cross-elasticty of demand ‘Slope of the demand curve of a firm and of the industry ‘Super-normat proft locus of constant utility s called the Expansion path Utility function Indifference curve Demand function Market performance is determined by Market structure only Market conduct only Either market structure or market conduct Both market structure and market conduct The break-even quantity of output can be determined by the formula TFCKP-AVC) TFCKANC-P) TECKP4AVC) TFONTFC-AVG) A demand curve would not shift If there were changes in the ‘Taste and preferences of consumers Number or age distribution of buyers Price of the good, Expectations of consumers availabilty of the good about the ‘The economic rent earned by any factor will be the highest ifits elasticity of supply is Zero Equal toone Infinity Between one and infinity Least cost production in the long run requires firms to adjust their resource mixes until the relative prices of resources are equal to the relative Prices of outputs Total costs for each resources Average productivity per resource ‘Marginal productivity of the resources |. Under WTO in agriculture, all measures that directly support prices or subsidies related to production quantities are included in the ‘Amber Box Red box Blue box Green Box Subject : PhD — Agricultural Keonomfcs ~ 2011 41. Which of the following is a proposal contained in the Model APMC Act? a) Expansion of futures trading b)_ Setting up of special marketing boards c) Provision of direct sales to consumers 4) Setting up of special economic zones 42, Measures of long-term solvency of a business enterprise are collectively called a) Leverage ratios b) Liquidity ratios ©) Tum-over ratios 4) Profitability ratios 43, Price discrimination allows a monopoly to a) Lower its marginal cost b) Reduce its producer surplus ©) Raise its folal revenue. ) Charge all customers a higher price 44, The marketing activity of dividing markets Into smaller units with similar needs and characteristics Is known as a) Market penetration b)_ Relationship marketing ¢) Target marketing d) Market segmentation 45, Which of the following are not the affilate bodies of World Bank? a) IMF b) IDA ©) IFC @) ADB 46. In the second stage of law of diminishing fotumns, the elasticity of production (E,) is @) E> 4 b) <1 ©) Eo d) &<0 47. An equation of a system is exactly identified if the number of excluded exogenous variables from the equation is a) Equal to the number of endogenous variables in the equation minus 4 ») Smaller than the number of endogenous variables in the equation minus 1 ©) Greater than the number of endogenous Variables in the equation minus 1 4) Allofthe above 48, Short-term supply curve of milk can be altered by ) Purchasing more cows b) Changing feed mix ©) Processing the milk 4d) Technological change 49, a) b) ° a) 50. a) ») °) 4 51 a) b) <) @) 62, b) ° d) 64, a) b) ©) a) 56, a) b) °) d) Family labour income is equal to Gross income — Cost A, Farm business income — wages of family labour Gross income ~ Cost Cz Gross income — Cost By GNP defétor Is Nominal GNP/nominal GDP Nominal GNP/real GNP. Nominal GNP/Feal GDP Real GNP/nominal GDP The identification problem of the ‘simultaneous equation systems relates to Method'of estimation ‘Sample size ‘Meaningful estimate of structural coefficients Allof the above ba is ath) a ‘The determinant of the matrix ( BF 2 a a totac(t 2) mena? eta=| | | thena’is 9-4 : omy o 4 8 7 “4 8 17 8 3 6 47 ‘The substitution effect for a fallin the price of ‘@ commodity (ceteris paribus) is given by ‘A movement up a given indifference curve A movement from a higher to a lower indifference curve ‘Amovernent down a given indifference curve Any of the above 7 Type | error is Rejecting He when Hy Is true ‘Accepting Ho when His false. ‘Accepting Ho when Ho is true Rejecting Ha when Ho s false Subject : PAD ~ Agricultural Keonomies ~ 2011 56. Presence of multcolinearity between the explanatory variables is detected by 2) Durbin-Watson test b) Farrar-Glauber test ©) Chisquare test 4d) Coefficient of multiple determination 87. If the correlation coefficient between X and Y |s 0.50, what percentage of the total variation remains unexplained by the regres equation? a) 25% b) 50% ©) 75% 2) 100% 68, Which of the following is not the correct expression for coefficient of determination? a FS TSS RSS “Tes Ex, oe 4. 2yia Betin ») 4 a) 59. Which of the following Is a postive statement? 8) The govt, must lower the prices of bread so that more consumers can atford to buy it 'b) The best level of taxation Is zero per cent because then people get to keep every thing they want ©) An increase in college tuition will cause fewer students to apply to college 4) Economic theory course should last for two terme bocause itis a very important subject 60. If demand is inelastic, a'shift of supply curve rightward wil ) Decrease total revenue b) Increase total revenue ©) Have no effect on total revenue 6) Reduce the demand for the product 61, Allnormal goods have 2). Income elasticity of demand greater than 1.0, b) Price elasticity of demand greater than 1.0 ©) Negative price elasticity of demand 6) Positive income elasticity of demand 62. Tre difference between the maximum amount consumers are willing to pay and the amount they actually do pay for a given quantly of goods called 2) Dead weight surplus b) Consumer surplus ©) Producer surplus 4) Total surplus 63. A feature of labour supply curve is that, unlike most supply curves, it @)_is always positively stoped b) is always negatively sloped ©) May bend backwards d) None of the above 64. Suppose the government taxes a product. The decrease in quantity consumed will be smaller when a) The elasticly of demand is higher b) The elasticity of demand is lower ©) Elasticity of demand has nothing to do with ‘quantity demanded 4) More information is needed to answer it 65, When the elasticity of demand of a product is less than the elasticity ofits supply, it resulis in Cobweb phenomena of the following type a) Perpetual oscillation b) Damped osciiation ©) Explosive oscillation d) Botha) & b) 66. The relationship:between rate of interest and the level of income at which the money ‘market is in equilibrium is described by 2) LMfunction b) Production function ©) 1Sfunction ) Cost function 67. The type of isoquant which represents perfect substitutability of factors. of [production is 2) Leontiefisoquant ) Convex isoquant ¢) Linear isoquant 4) Kinked isoquant 68. Gross National Product (GNP) is given by Which ofthe following? @) Personal consumption expenditure (C) + Gross domestic private investment () + Net foreign investment (%-M) + Government ‘oxpenalture on goods and services (@) ) Net national product (GNP) ~ Indirect taxes + Subsidies ©) National income ~ Socal security contributions ~ Corporate income taxes — Undistributed corporate profits + ‘Transfer payments ©) Rents + Interests + Profits of unincorporated fims + Dividend + Undistributed corporate profits + Corporate taxes + Indrect taxes + Depreciation ~ Transfer payments Subject : PhD — Agricultural Eeonomles~2011 69. Which of the following does not represent the elasticlty of production Ep? Avy: rT b) MPP/APP AYWX. Oxy a) ° d) MPPxAPP. 70. The capital using technological progress 8) Increases MP, proportionately more than Mey, b) Increases the absolute slope of the isoquant ©) Reduces K but Increases L to produce a given level of output 9) Allof the above 74. An autonomous decrease in investment ‘causes the IS schedule to shift a) Leftward by the change in investment 4) Rightward by the change in investment ©) Rightward by the change in investment times, the expenditure multiplier 4) Leftward by the chan the expenditure multiplier in investment times 72. Liquidity preference theory states that the liquidity preference by the people depends on @) Transactions motive b) Precautionary motive ©) Speculative motive 4d) Allof the above 73. The Philips curve shows @)_ An inverse relationship between the rate of inflation and the rate of unemployment b) A direct relationship between the rate of Inflation and the rate of unemployment ©) An inverse relationship between the rate of inflation and the level of employment @) An Inverse relationship between the price level and the level of employment 74. A farmer has four items (i.e., machinery, lvestack, farm bulaing and land) to offer a6 security for toan. Which of these could be offered as seciity ifthe farmer Is taking the loan against collateral security? ) Farm building and land both ') Machinery and livestock both ©) Farm building alone @) Machinery alone 6 78. Profit citfers from olher kinds of income because 4) tis uncertain and may be negative b} tis a contractual income: ‘c) Itis.@ reward for ability 4) tis surplus 76. In economics, rent is a) The payment for land b) A surplus payment necessary to keep a factor in ts present employment ©) The reward paid tothe landlords ) The payment made for the hire of tand and ballaings 77. What aré the terms of trade? 8). The price of imports in terms of exports b) The difference between visible imports and Visible exports ©) The difference between total imports and exports. ) The difference in the foreign exchange rates of different currencies 78. Which of the following types of unemployment is caused by the immobility of labour? a) Seasonal ) Cyclical ) Frictionat 4) Structural 78..When both the duopolists in an industry act as followers and no one acts as a leader, it leads toa 8) Cournot solution 'b) Quasi-competive solution ©) Stackelberg solution 4d) Collusion solution 80. The distribution of the form 1 Pe eH 7 Is known ae -e 8) Poisson distribution b) Gamma distribution ¢) Normal distribution 4) Logistic distribution 81. Allocative efciency of any enterprise is also known as ) Operational tficiency b) Economic efficiency ©) Technical efficiency - ©) Price efficiency 82. 1S curve has slope and shows cequiliprium in market a) Positive, goods ) Positive, money * ©) Negative, goods d) Negative, money Subject : PAD — Agricultural Keonomies — 2011 83. The L’ shaped isoquants represent 2) Fixed proportion combination of inputs b) Constant rate of substitution 6) Increasing rates of substitution 4) Decreasing rates of substitution 84. Economic efficiency is highest under a) Perfect competition b) Monopoly ©) Mnopolistic completion, ®) Oligopoly 85. Kinked demand curve is used to show 2) Welfare under oligopoly b) Price rigidity under oligopoly ©) Market share under duopoly @) Profit maximisation under duopoly 86. If the assumption of OLS (E(Ku}~0) is not fulfilled, then the estimates are a) Not biased 2) Biased ©) Inconsistent 4) Bizsed and inconsistent 87. The classical book on ‘Economics of Agricultural Production and Resource Use" is varitten by a) G.E. Foster b) W.W. Wilcox ©) T.W. Schultz d) EarlO, Heady 88. Which one of the following is not a component of a market? a) The existence of goods or commodity b) The existence of buyers and sellers ©) Business relationship between buyers and sellers 4) Existence of a uniform price 89. Use of transfer payments as a policy Instruments is made for 2) Bringing about income redistribution ) Reducing private consumption ©) Increasing private coneumption 4) Increasing gross national product 80. When a price index increases from 125 to 150, the value of money a) Increases 26% b) Decreases 25% ©) Incteases 20% 4) Decreases 20% |. A bank must maint adequate qui To meet the loan demand of customers and minimize loan default To explain transaction deposits, whenever there is a deficiency of secondary reserves To meet loah demand and outflow of deposits To mest the-currency requests of deposities and conversion of loans info secondary eserves, <<” Fiscal Policies are highly effective in Keynesian range of LM curve Classical range of LM curve Intermediate range of LM, curve Both Keynesian and classical range of LM curve {n order to achieve the maximum gains from trade, producer should specialize according to Production possibilty frontier Absolute advantage Comparative advantage Property rights ” ‘The “e' is the elasticity of demand for the product of a monopolist then the ratio P/MR. Is given by ete ele-1 e-tier ertiet Quasi Rent is equal to Revenue minus cost Revenue minus fixed cost - Revenue minus variable cost Revenue minus normal profit Harrod-Domar model of economic growth is. based on the experiences of Under-developed economies Developing economies Advanced capitalist economies, ‘Socialist economies , According to Hicks, an invention is said to be neutral when it raises ‘The average products of labour and capital in the same proportion ‘The marginal products of labour and capital in the same proportion The wage rate and interest rate inthe same proportion None of the above Subject : PUD ~ Agrfeuitural Eeonomies — 2011 88. Which of the following is not a characteristic of market performance? a) Relative technical efficiency of production b) Degree of buyer concentration ©) Size of industry output @) Profit margin, 99. A "Bonded warehouse" is a) A warehouse owned by a private business {or storage of thelr own goods >) A warehouse owned by @ private business {or storage of products of ather businesses ©) Apublc warehouse 4) A warehouse at an air or seaport where imported goods are stored until customs duties are pate 100, Ainong the following economists, who has advocated the technique of unbalanced growth? 2) AO. Hirschman ») Paul A. Samulson ©) HD. Henderson 0) Jif. Keynes 101. The simplex algorithm for solving linear programming models was invented by a) GB, Dantzig b) T.C, Koopmans ©) G.Tintner 3) E.0. Heady 102. Moving average method is used to eliminate a) Cyclical variations b) Seasonal variations ©) Secular variations ) _Itregular variations 103. In case of a linéar demand function, the slope of the marginal revenue curve derived from It will be ) Only half of the demand curve b) Equal to that of the demand curve ©) Twice that of the demand curve d) Thrice that of the demand curve 104. if the price-consumption curve for a ‘commodity has a positive slope, its elasticity of demand would be a) Equal to one b) Less than one ©) » Greater than one’ 9) Greater than two 408. The rate of discount (t) at which the present value of the cost stream of a project just ‘equals to the present value of its returns is termed a) _ Net present value b) Return on investment - ©) Internal rate of return 4d) _ Desired discount rate 106. Which of the following statements with regard to NABARD is not correct? a) It gives difect finance for agricultural rural development b) It plays a key role in programmes of rural development ©) It finances agriculture and village industies through the cooperative banks and ‘commercial banks 4d) Itdirectly loans to farmers and artisans. 4107. If to events A & B are independent, the probability that both of these will occur fs given by a) PIA) + PB) b) P(A) x PB ©) P(A)x P(B) + P(AB) @) PA)-Pe) 108, The product moment correlation coefficient is obtained by the formula i a) r= 3X¥hy b) r= DaylNosoy ©) r= Exy!Noy 8) r= Daylo,0, 109. The elasticity in respect of speculative demand for money under the liquidity trap ‘coneition Is. 2) Infinite | b) Zero °) One @) Greater than one 110. When the intrinsic value of money and its face value are equal, itis called a) Token money * b) Full-bodied money ©) Quasi-money d) Flat money 111, Which one is not economic motive of holding a stock of money? a) Transaction motive ) Precautionary motive ©) Speculative motive d) Black money mative 112, The major quantitative monetary too! available with central bank is a) Rationing credit b) Margin requirements 6) Reserve ratio requirements d) Regulation of consumer ereait 113, The most important asset of a commercial bankisits 2) Demand deposits ») Government securities ©) Negotiable stocks and bonds 4) Loans to businessmen, industry dtc. Subject : PRD ~ Agricultural Reonomtes~ 2011 114. The Hindu rate of growth 2) Refers to growth of Hindu population ') is the term used by Raj Krishna to represent the nature of growth of the Indian economy at around 3.5 percent per year ©) is the term coined by Amartya Sento represent the nature of the growth of Inclan economy at a round 3.5 percent per annum ©) Is the term coined ‘by V.KRV. Rao to decide the nature ofthe grows ofthe Incian ‘economy at around 4 percent 118. Economic development with unlimited supplies of labour is a model of development enunciated by a) AO. Hirschman b) WAN, Rostow ©) WA. Levis @) Halls Chenery 146. According to Simon Kuznets, during process of development, the’ income Inequalities tend to a) Decrease ») Increase ©) Decrease first and then increase 4d) Increase first and then decrease 117. The expected monetary value criterion is used for decision-making under situations of a) Risk b) Uncertainty ©) Certainty d) Both risk and uncertainty 118, The inflationary gap measures 8) The difference between the expected and actual rates of infiation b) The excess of aggregate demand over the {ul-omployment level ©) The increase in gap between the:rich and the poor as a result of infation 9) Allofthe above 118. How many “ridge lines’ can be drawn in a Particular soquantsmap? a) One b) Two ©) Equal of the number of isoquants a) Infinite 120.In his revised demand theory, Hicks assumes the consumer's preferences to have a) _ Strong ordering b) Weak ordering ) Indifference relations 4d) None of the above 121, When we change the Oj coefficients in the objective function of a Linear Programming problem then itis called 8) Capital variable programming ) Resource variable programming ©) Price variable programming 4) Input-output variable programming 122, Equilibrium occurs in a two-sector model when ) Saving equals investment b) Consumption plus investment equals the value of output ©) Planned saving equals planned investment ) Aggregate spending equals the revenues of the business sector 123, The line joining points of consumer equlliorium resulting when only the consumer's income is varied is called the ay Demand curve * b) Incoms-consumption curve ¢) Engel curve. @) Price-consumption curve 124. In Keynesian theory, Investment demand depends upon a) Marginal efficiency of capital b) The rate of interest, ©) Both a) and 6) d) None of the above 125. The feasible region of a linear programming, problem is 8) Acconcave set b) A convex set ©) Anull set 9) None of the above 426, The integral of 1 is a) Zero ’) x ©) 4x ad tx 127. In computing the mean of 1000 numbers, a number is wrongly writen as 14 instead of its true value 41. The correct mean ‘a) is 0.027 more than the wrong mean b) 180.27 more than the wrong mean ©) 18 0.0027 more than the wrong mean 4) Cannot be calculated on the basis of the information provided 128. Risk can be measured in terms of a) Standard deviation b) Mode. ©) Meen d) Correlation coeficient Subject : PhD ~ Agricultural Economies — 2011 128. Full employment without inflation can exist if aggregate demand is ) Less than actual GNP ) Equal to actual GNP ©) Less than potential GNP @) Equal to potential GNP 130. According to permanent income hypothesis, ail increases in 2) Permanent income are saved b) Permanent income are consumed , ©) Transitory income are saved d) Transitory income are consumed Matching type questions (No. 134 to 140); ‘questions carry equal marks. Choose the correct answer (a, b, ¢, d or e) for each sub-question (i, fi, ii, iv and v) and enter your choice in the circle (by shading with a pencil) on the OMR - answer sheet as per the instructions given on the answer sheet. 131. D) Heteroscedasticity a) The value of explanatory veriables include Measurement error ') Inclusion or exclusion of relevant explanatory variables in the model ©) Variance of the error term changes with the value of explanatory variables 4d) Explanatory variables are highly correlated ©) Error terms of different time periods are correlated i) Multicoltnearty i) Autocorrelation |v) Errors in variables v) Speciation error 132, i) Principle of variable a) Recovery of fixed cost Proportions. i, Principle of by SX. Pe ‘opportunity cost a Py iy Principle of oy) NYPL. Pe substitution between Pr Pe inputs Iv) Time comparison ¢) MC = MR. principle ¥) Break even point —_e) Net present value 10 133, Match the term with the person who first propounded or closely associated 4) Unlimited supplies of labour a) Harris Todaro |) Migration and unemployment _b) Arthur Lewis li) Critical minimum effort theory ¢) Rosenstein Rodan) 'v) Big push model 4) Leibenstein ¥) Spread effect ) Myrdal 134. Match the term with its appropriate oi definition 8) Goods for which the income elasticity of demand is negative b) Goods for which the cross price elasticity of demand is negative ©) Goods for which the income elasticity of demand is positive and greater than one 4) Goods for which the income elasticity of demand is positive 8) Goods for which the cross price elasticity of demand is positive and greater than 1) Luxury goods it) Normal goods i) Infetior goods ‘v) Complementary goods ¥) Substitute goods one sy 435, 7 ') Ifep=0, the demand is a) Elastic: Il) iep=4, the demand is b) Inelastic lil If egsi, the demand is _¢) Perfectly elastic 'v) If O

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