List of top Questions asked in GATE Humanities and Social Sciences- Economics

In a particular code, if "RAMAN" is written as 52 and "MAP" is written as 33, then how will you code “CLICK" ?

The estimated results of a Probit model is given in the table below, where Y is a binary variable taking the value either 0 or 1, and X is an integer. The probability that Y = 1 when X = 30 is ________ (rounded off to two decimal places).

Variable	Coefficient	Standard Error	Z-Statistic	Probability
Constant	-0.064	0.399	-0.161	0.871
X	0.029	0.010	2.916	0.003

Fill in the blanks with the correct combination of tenses for the given sentence :
Darwin's work (i)_______ a related effect that (ii) ________ influenced the development of environmental politics - a 'decentering' of the human being.

In a certain type of code, 'they play cricket together' is written as ‘mv kb lb iv'; 'they score maximum points' is written as 'gb lb mb kv'; 'cricket score earned points' is written as 'mb gv kb kv' and 'points are earned together' is written as 'kv mv ob gv.'
What is the code for ‘earned maximum points’ ?

In a perfectly competitive market, suppose the market demand curve is given by P = 10 + W - Q, where P is the market price, W is the average wealth of the consumers in the market, and Q is the industry output. The total cost function for a representative firm is given by C(q) = q³ - 2q² + 5q, where q is the output of a firm. If W = 80, then the total number of firms in this industry in the long-run will be ______ (in integer)

Consider a duopoly market where Firm 1 and Firm 2 produce differentiated products such that the demand function of each firm is given by :
q₁(p₁, p₂) = 18 - p₁ + p₂
q₂(p₁, p₂) = 18 + p₁ - p₂
Here, q₁ and q₂ are the outputs produced by Firm 1 and Firm 2, respectively, and p₁ and p₂ are the corresponding per unit prices.
Cost of production for the ith firm is given by C_i(q_i) = 2q_i ∀ i = 1,2
The firms compete in prices. The price set by Firm 2 such that the market is in Nash equilibrium will be ________ (in integer).

Consider the Solow growth model in which output (Y) is determined by the production function Y_t = 0.2K_t + 0.8L_t, where K and L denote capital and labour used in the production process, and t depicts time. The depreciation is given by δK_t, where δ = 0.2. Saving is given by sY_t, where s = 0.5. Assume that the population does not grow with time. The steady state capital per unit of labour is ______ (in integer).

The following table provides different statistical model specifications along with the elasticity of y_t with respect to x_t. Which one of the following options is correct ?

Row	Statistical Model	Elasticity
1	\(y_t=β_1+β_2\frac{1}{x_t}\epsilon_t\)	\(-\frac{β_2}{x^2_t}\)
2	\(y_t=β_1-β_2\text{ln}(x_t)+\epsilon_t\)	\(-\frac{β_2}{x^2_t}\)
3	ln(yt) = β1 + β2 ln(xt) + εt	β2
4	ln(yt) = β1 + β2xt + εt	β2xt
5	ln(yt) = β1 + β2 ln(xt) + εt	β2 exp(xt)
6	ln(yt) = β1 + β2xt + εt	\(β_2\frac{1}{\text{exp}(x_t)}\)

Based on the table given below, the current account deficit in nominal terms as a percentage of GDP during 2012-13 will be _______ (rounded off to three decimal places).

Expenditure on Gross Domestic Product (Rupees in Crores)
At Current Prices		2009-10	2010-11	2011-12	2012-13
1.	Final Consumption Expenditures	448	525	617	696
2.	Gross Fixed Capital Formation	206	241	286	307
3.	Change in Inventory Stocks	18	27	17	17
4.	Exports of Goods & Services	130	171	215	243
5.	Imports of Goods & Services	165	205	272	311
At Constant 2004-05 Prices		2009-10	2010-11	2011-12	2012-13
1.	Final Consumption Expenditures	340	368	400	421
2.	Gross Fixed Capital Formation	159	117	199	200
3.	Change in Inventory Stocks	14	21	12	11
4.	Exports of Goods & Services	100	120	138	145
5.	Imports of Goods & Services	133	154	187	199

Let x and y be two dummy variables that take the values of either 0 or 1, and follow the bivariate frequency distribution as given below. If a logit regression is estimated with y as the dependent variable and x as the independent variable, then the estimated coefficient of x is _____ (rounded off to two decimal places)

x	0	1	Total
y
0	6	11	17
1	6	7	13
Total	12	18	30

For the function \(F: \R^2 → \R\) specified as F(x, y) = x³ - y³ + 9xy, which of the following options is/are correct

A decrease in the income tax rate has a ________ effect on the labour supply if the ________ effect dominates.

If a discrete random variable X follows the uniform distribution and assumes only the values 8, 9, 11, 15, 18, and 20, then P(|X -14| < 5) is

Consider a two good economy where a denotes consumption of apricots and b denotes consumption of bananas. Anu's utility function is U^Anu (a, b) = a + 2b, and Binu's utility function is U^Binu (a, b) = min{a, 2b}. Anu initially has no apricots and 12 bananas. Binu initially has 12 apricots and no bananas. In the competitive equilibrium, which one of the following will be Anu's optimal consumption bundle ?

Assume the following probabilities for two events, A and B: P(A) = 0.50,P(B) = 0.50, and P(A ∪ B) = 0.85. Then we can conclude that

If X and Y are two random variables with the joint probability density function
\(f(x,y)=\left\{ \begin{array}{l} \frac{2}{3}(x+2y);\ \text{for}\ 0\lt x, y\lt 1 \\ 0;\ \ \ \ \ \ \ \ \ \ \text{otherwise} \end{array} \right.\)
then \(E[X|Y=\frac{1}{2}]\) will be

For a given foreign currency, if the forward exchange rate of delivery is 20 and the current value of spot exchange rate is 8, then the forward premium will be _________ (rounded off to two decimal places).

Two friends Aditi and Raju are deciding independently whether to watch a movie or go to a music concert that evening. Both friends would prefer to spend the evening together than apart. Aditi would prefer that they watch a movie together, while Raju would prefer that they go to the concert together. The payoff matrix arising from their actions is presented below. p and (1 - p) are the probabilities that Aditi will decide in favour of the movie and concert, respectively. Similarly, q and (1 - q) are the probabilities that Raju will decide in favour of the movie and concert, respectively. Which one of the following options correctly contains all the Nash Equilibria ?

		Raju
Aditi		Movie	Concert
	Movie	2,1	0,0
	Concert	0,0	1,2

Let x₁, x₂ ….. x_n be an independently, and identically distributed (iid) random sample drawn from a population that follows the Normal Distribution N(μ, σ²), where both the mean (μ) and variance (σ²) are unknown. Let \(\bar{x}\) be the sample mean. The maximum likelihood estimator (MLE) of the variance (\(\hat{\sigma}^2_{MLE}\)) is/are then characterized by

A six-face fair die is rolled once, with X being the number that appeared on the uppermost surface. Then the variance of X is ________ (rounded off to three decimal places).

Which of the following factor(s) do NOT affect output and employment in the classical macroeconomic model ?

For the following function f(x) to be a probability density function, the value of c will be ____________ (rounded off to two decimal places).
\(f(x)=\left\{ \begin{array}{l}\frac{c}{\sqrt{x}};0\lt x\lt 4\ \text{and}\ c\gt0 \\ 0;\ \ \text{otherwise} \end{array} \right.\)

Consider a simple pooled regression model: y_it = β₀ + β₁x_it + vit where v_it = μ_i + ∈_it and Cov(x_it, μ_i) ≠ 0. Here, μ_i captures the unknown individual specific effects and it is the idiosyncratic error uncorrelated with both x_it and μ_i. If the parameters of this model are estimated using the ordinary least squares (OLS) method, then the estimated slope coefficient will be

When transfer of income happens from the "not richer" individual to the "not poorer" individual, then such a transfer is known as

In an economy, the dependency ratio is the ratio of