GATE 2026 Question Paper Humanities and Social Sciences - Economics (XH-C1)

FOR GATE EXAM PREPARATION

GATE 2026
Question Paper ·
Humanities Social
Sciences Economics
(XH C1)
EXAM YEAR TYPE

GATE 2026 Question Paper
SUBJECT

Humanities Social Sciences Economics (XH C1)

Notes · Sample Papers · Previous Year Papers · Mock Tests

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Humanities & Social Sciences (XH)

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General Aptitude (GA)
Q.1 – Q.5 Carry ONE mark Each

Q.1 “He often _____ the numbers. False claims are not going to help. Honesty _____
trust”, said the manager.
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Choose the option with the correct order of words to fill the blanks.

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(A) a exaggerates; engenders

(B) excels; encourages

(C) aggravates; alleviates

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(D) diminishes; eliminates

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Humanities & Social Sciences (XH)

Q.2 In the sequence of tiles shown below, the missing tile indicated by the question
mark should be

(A)

(B)

(C)

(D)

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Q.3 A school has 100 students distributed among 1st to 10th standards.

Based on this, which one of the following statements is always correct?

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(A)
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There are at least 10 students who belong to the same standard.
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(B) a There is at least one student in each standard.

(C) There are at most 10 students in 10th standard.

(D) The total number of students from 1st to 5th standards is at least 50.

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Q.4 How many 3-digit numbers can be formed using three distinct single digit prime
numbers?
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(A) 64

(B) 24
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Humanities & Social Sciences (XH)

Q.5 In a group of students, 10 students like Mathematics, 12 students like English,
4 students like both Mathematics and English, and 6 students like neither
Mathematics nor English. The number of students in the group is ____

(A) 18

(B) 20

(C) 24

(D) 32

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Humanities & Social Sciences (XH)

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Q.6 – Q.10 Carry TWO marks Each

Q.6 Charity : P :: Retaliation : Q

Choose the appropriate pair of words P and Q that fit the analogy.

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(A)
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P = Parsimonious; Q = Vengeful
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(B) a P = Altruistic; Q = Amicable

(C) P = Resentful; Q = Spiteful

(D) P = Magnanimous; Q = Vindictive

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Humanities & Social Sciences (XH)

Q.7 A paper shown in Panel I is folded along the dashed lines (- - -) to construct a
cube. The shaded regions shown in Panel I appear on the outer surface of the cube.
Referring to cubes shown in Panel II, which one of the options is correct?

(A) Only (i) can correspond to the unfolded cube in Panel I.

(B) Only (ii) can correspond to the unfolded cube in Panel I.

(C) Both (i) and (ii) can correspond to the unfolded cube in Panel I.

(D) Neither (i) nor (ii) can correspond to the unfolded cube in Panel I.

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Q.8 Consider the cube shown below with its 8 corners labelled a, b, c, d, e, f, g,
and h. The figure is representative. All corners are to be colored such that any two
corners that are connected by an edge must be of different colors. The minimum
number of colors required to achieve this is ________

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(A) 8
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(B) 4

(C) 3

(D) 2
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Humanities & Social Sciences (XH)

Q.9 Four hills H1, H2, H3, and H4 are present in an area. The following observations
are made about them:

i. Neither H2 nor H3 is the easternmost hill.
ii. Neither H2 nor H3 is the westernmost hill.
iii. Neither the easternmost hill nor the westernmost hill is the southernmost
hill.
iv. Two hills are located to the west of H2.
v. The southernmost hill has at least two hills to its east.

The southernmost hill is ________.

(A) H1

(B) H2

(C) H3

(D) H4

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Humanities & Social Sciences (XH)

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Q.10 As shown in the figure, circle 𝐶1 with center 𝑂1 and radius 𝑟1 touches the square
𝑉𝑊𝑋𝑌 at points 𝑃 and 𝑄 while circle 𝐶2 with center 𝑂2 and radius 𝑟2 touches the
square 𝑉𝑊𝑋𝑌 at points 𝑅 and 𝑆. The two circles touch each other at 𝑇.

̅̅̅̅ = 𝑉𝑊
Given 𝑟1 = 1 cm and 𝑉𝑌 ̅̅̅̅̅ = 4 cm, 𝑟2 = _____ cm.

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(A)

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a (C) 7 − 4√2

(D) 5 + 3√2

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Reasoning and Comprehension (XH-B1)

Q.11 – Q.17 Carry ONE mark Each

Aman, Beena, Chiranjeevi and Dhiman are four siblings. Each of them is an
Q.11
expert in one of the performing arts, namely, dance, theatre, guitar and percussion,
not necessarily in that order.
The dancer is taller than the theatre expert. Aman is taller than Chiranjeevi. The
percussionist is taller than Beena but shorter than Aman. Beena is shorter than the
dancer. The guitarist is not the tallest. Dhiman is shorter than both, guitarist and
Chiranjeevi.

What is the expertise of Aman?

(A) Dance

(B) Theatre

(C) Guitar

(D) Percussion

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Reasoning and Comprehension (XH-B1)

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Q.12 Let ∆𝐴𝐵𝐶 be an isosceles triangle with the base 𝐴𝐵 of length 8 units. Let 𝐶𝐷 be a
perpendicular of length 4 units drawn from the vertex 𝐶 onto the base
𝐴𝐵 and 𝐴𝐶 = 𝐵𝐶.

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Then, which of the following is the set of values of the angles (in degrees)
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𝐶𝐴𝐵, 𝐴𝐵𝐶, 𝐵𝐶𝐴 respectively?
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(A) 45,45,90

(B) 100,40,40

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(C) 90,45,45

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(D) 40,40,100
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Reasoning and Comprehension (XH-B1)

Q.13 In the given passage, fill in the blanks with most suitable set of given words:

The future must no longer be___ by the past. While, the effects of the past are still
with us, each day is a new___. Therefore, one should ___from solely believing in
destiny and crave towards charting their own path of success with grit and labour.
Positive_______ is imperative.

(A) Determined, beginning, refrain, anticipation

(B) Fascinated, one, include, physiology

(C) Explored, suffering, content, psychiatry

(D) Marred, life, hinder, labyrinth

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Reasoning and Comprehension (XH-B1)

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Q.14
Indian society is experiencing a boom in pet culture, where people are becoming
responsible caretakers of pets rather than merely providing food and shelter. They
no longer like to identify themselves as ‘pet-owners’ but rather as ‘pet-parents’.
This means that there is an emotional transaction rather than a utilitarian one.
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Which of the following weaken(s) the argument presented in the given passage?
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(A) Some social media influencers are using their pets only for popularity.

(B) Food, medicines and clothes for pets are becoming easily available.

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(C) Pet owners are expecting some provision for tax rebate.

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(D)
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In today’s stressful times, pets lprovide
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Reasoning and Comprehension (XH-B1)

Q.15
Three statements, S1, S2 and S3 are given, followed with 4 conclusions, C1, C2,
C3 and C4.
S1: Hostel authorities organised a special lunch on 01-02-26 during 12 noon to
3 pm, for those residents of the Hostel, who paid hostel mess fees on time.
S2: Hostel authorities issued a notice that, since elections for Mess Council is held
during 4-5 pm of 01-02-26, residents of the Hostel who are contesting the
elections need to stay away from the hostel since morning till 5 pm.
S3: Hostel residents who were eligible to have special lunch, had it on 01-02-26.
C1: Residents who did not have special lunch on 01-02-26, either did not pay
hostel mess fees on time or were contesting elections.
C2: Residents having special lunch on 01-02-26, were either not contesting
elections or had paid hostel mess fees on time.
C3: Residents who are contesting elections need not care about paying mess fees.
C4: Residents who have paid hostel mess fees on time could join special lunch
only if they are not contesting elections.
Which of the conclusion(s) is/are incorrect?

(A) Only one among C1, C2, C3 and C4 is incorrect.

(B) C1 and C2 are incorrect.

(C) C2 and C3 are incorrect.

(D) C3 and C4 are incorrect.

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Reasoning and Comprehension (XH-B1)

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Q.16
Six statements, S1 to S6, are given.
S1: All GATE candidates are engineers.
S2: Some GATE candidates are CAT candidates.
S3: All GRE candidates are GATE candidates.
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S4: All engineers are GRE candidates.
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S5: Some CAT candidates are GRE candidates.
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S6: Some CAT candidates are engineers.
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fourth statement. Identify the option(s) where the fourth statement can be
necessarily inferred from the set of three statements.

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(A) {S1, S2, S3} => S5
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(B) {S4, S1, S2} => S5 a
(C) {S6, S1, S3} => S5

(D) {S4, S3, S1} => S6

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Reasoning and Comprehension (XH-B1)

Q.17 Four couples M-N, O-P, R-L, S-E meet to have a dinner together on an eight-
seater rectangular dining table with four seats each on opposite sides. The men are
named as M, O, R, S. Two of the men, O, R, sit on the two corners of one side of
the table and M sits beside R. Further, none of the couples occupy seats opposite
to each other. However, a person sits adjacent to the seat opposite to his/her
spouse.

Based on the information, which of the following conclusions can be drawn?

(A) R sits opposite to N and S sits opposite to P.

(B) R sits opposite to P and O sits opposite to N.

(C) S sits opposite to N and O sits opposite to L.

(D) M sits opposite to L and O sits opposite to E.

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Reasoning and Comprehension (XH-B1)

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Q.18 – Q.26 Carry TWO marks Each

Q.18
Me and my spouse have a big family, comprising 8 females and 6 males. We have
two sons and two daughters, of whom the eldest is unmarried. Out of my two
grandsons and three granddaughters, only one grandson is a single child. His
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mother is my younger daughter.
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Which of my children necessarily has two daughters?
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(A) None of my sons

(B) One of my sons
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(C) One of my daughters
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(D) Elder daughter
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Reasoning and Comprehension (XH-B1)

Q.19
Given the first four terms 30, 105, 385, 1001 in a sequence, which amongst the
following is the fifth term of the sequence?

(A) 2341

(B) 2431

(C) 2571

(D) 2751

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Reasoning and Comprehension (XH-B1)

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Q.20
Three players named Arun, Babita and Chandu play a game by tossing an
unbiased coin in turn whose rules are as follows:

Initially each player has 100 candies. If the tossing of this coin results in a ‘head’
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then the player who tosses receives 10 candies from each of the other two players,
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whereas, if the toss results in a ‘tail’ then the player who tosses has to give away
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20 candies
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candies
a Babita and finally stopped after Chandu’s turn. Given that Arun is the only
winner, which of the following hold(s) true?

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(A) Arun has 90 candies more than Chandu

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(C) Arun has 90 candies more than Babita

(D) Babita and Chandu together have 120 candies

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Reasoning and Comprehension (XH-B1)

Q.21
Choose the correct sequence of sentences so that they form a coherent paragraph:
P. However, in the context of texts dealing with science or engineering, this
condition may not be applicable.
Q. One can infer, that there is something called discipline fidelity and within
this aspect, content, language, structure and scope of a text may vary.
R. In the meaning-making process of a text, it is not always logic that is central.
S. Most of the times, it is the expression of the experience that supersedes the
structure and argument.
Which of the following options is/are correct and giving the most appropriate order
and meaning to the sentence?

(A) RSPQ

(B) QRSP

(C) RSQP

(D) SPRQ

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Reasoning and Comprehension (XH-B1)

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Q.22
Mental health is a global concern, especially among the youth. During the Covid-
19 pandemic, when schools and colleges were operating online, students were left
with no option but to stay at home leading to negligible social interaction. Several
studies indicate that even when offline classes have now resumed post Covid-19
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pandemic, these students are finding it difficult to establish social connect leading
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to mental health issues. To deal with this situation, schools and colleges are trying
hardstoe implement different strategies to combat their student’s mental health l as
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agdepending on their unique culture, overall strength, and resources.
Which of the following conclusions can be drawn from the above passage?

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Different schools and colleges will have their own way to tackle the issue of
mental health.
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(C) A combination of online and offline class is good for students.

(D) Social connect is important for mental health.

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Reasoning and Comprehension (XH-B1)

Q.23 On the basis of syntax and grammar, identify the incorrect sentence(s).
I. Doctors have found high levels of cerebrospinal fluid in certain cases of
cerebral palsy around the world. They also suggested its abnormal impact
on speech and muscle movement.
II. Doctors have found high levels of cerebrospinal fluid in certain cases of
cerebral palsy around the world which suggests the abnormal impact on
speech and muscle movement.
III. Having found high levels of cerebrospinal fluid in certain cases of cerebral
palsy around the world, doctors are suggesting abnormal impact on speech
and muscle movement.
IV. Having found high levels of cerebrospinal fluid in certain cases of cerebral
palsy around the world, doctors suggested its abnormal impact on speech
and muscle movement.

(A) I

(B) II

(C) III

(D) IV

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Reasoning and Comprehension (XH-B1)

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Q.24
In a cricket match amongst 7 friends, named P1 – P7, P1 scored maximum
individual runs of 25 and P7 scored minimum individual run of 0. No two friends
had the same score. The median and average runs scored were 15 and 12.57, not
necessarily in that order. Two players, P2 and P3, who scored more than median
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but less than maximum, scored less than 40 runs together. One player scored
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double the sum of non-zero scores of two players.
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What could be the possible value(s) of the second highest score?
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(A) 18

(B) 20
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(C) 21
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(D) 22 a

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Reasoning and Comprehension (XH-B1)

Q.25
A police station has six personnel comprising an inspector (I) and five constables
(𝐶1 , 𝐶2 , 𝐶3 , 𝐶4 , 𝐶5). Normally, a ‘raid team’ of two, three, or four members is formed
depending upon the nature of the raid. As per rule, it is mandatory that the inspector
is part of raid team.
Number of distinct raid teams that can be formed is __________________.
(Answer in integer)

Q.26
A man visits four relatives on a day. He purchases some sweets and gives a part of
it to the first relative. Next, he purchases the same number of sweets he is left with
after he visited his first relative. He repeats this process while visiting his other
relatives. Finally, he gives all the sweets to his fourth relative. It is known that he
gives equal number of sweets to all the relatives and is left with no sweets after
the fourth relative. Assuming that he initially purchased more than 20 sweets, the
minimum number of sweets he gave to each relative is _______________.
(Answer in integer)

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m .co s emEconomics (XH-C1)
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Q.27 – Q.44 Carry ONE mark Each

Q.27 𝐴 is an (𝑛 × 𝑛) matrix. Consider the following two statements

Statement 1: Columns of matrix 𝐴 are linearly independent

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Statement 2: Inverse of matrix 𝐴 exists
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Which one
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(A) Statement 1 is true if and only if Statement 2 is true

(B) Statement 1 and Statement 2 can be individually true or false

(C) Statement 1 implies Statement 2 but not the other way round

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Statement 2 implies Statement 1 but not.the other way round
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(D)

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Q.28 Madhu’s utility function is given by 𝑈 = max(2𝐶, 3𝐹), where 𝐶 represents the
amount of cloth and 𝐹 represents the amount of food. Her preferences DO NOT
satisfy which one of the following axioms?

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Completeness
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(D) Transitivity

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Economics (XH-C1)

Q.29 High powered money belongs to the

(A) asset side of the central bank’s balance sheet

(B) liability side of the central bank’s balance sheet

(C) asset side of the commercial bank’s balance sheet

(D) liability side of the commercial bank’s balance sheet

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Q.30 Match Column I with Column II

Column I Column II
P Amrit Bharat Station Scheme 1 To automate train protection
system
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Bharatmala Pariyojna
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2 To enhance the amenities at
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Kavach 3 To develop the National
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Highways

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S Pradhan Mantri Bhartiya 4 To provide some specific
a Kendras facilities for passengers passing
through railway stations

(A) (P 2), (Q 3), (R 1), (S 4)

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(P 2), (Q 1), (R 3), (S 4)s
(D)
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(P 4), (Q 1), (R 3), (S

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Economics (XH-C1)

Q.31
Two players use the following procedure to divide a perfectly homogeneous and
continuously divisible cake.
First, Player 1 divides the cake into two pieces and then Player 2 chooses one of
the pieces. Player 1 gets the remaining piece. Each player cares only about the size
of the piece s/he gets.

How is the cake divided in a sub-game perfect equilibrium if both the players are
rational?

(A) Player 1 gets the whole cake

(B) Player 2 gets the larger piece

(C) Each player gets half of the cake

(D) The outcome cannot be decided based on the given information

Q.32 Which one of the following statements regarding externality is TRUE?

(A) Cigarette smoking creates positive externality

(B) A ban on smoking is Pareto optimal

(C) Competitive market with a negative externality produces more than socially
optimal output

(D) Cigarette smoking does not create externality

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m .co

m .co s emEconomics (XH-C1)
se g la
a
Q.33 According to the theory of Keynesian Liquidity Preference, demand for money

m
m .co
(A) is only for transaction purposes

c o
. on the interest rate e m
(B)
e m
does not depend
l as
a s
l on income and interest rate ag
(C)
agdepends

(D) is only for precautionary purposes

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m .co
s e
g la
a

m
m .co
m .co s e m
s e g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.34 Unanticipated inflation rate, percentage change of output from full employment
level, and the Okun’s law yield (i) ________ and it represents (ii) ______ side of
the economy.

Which one of the following combinations of (i) and (ii) make the above sentence
correct as per economic theory?

(A) (i) Expectation augmented Phillips curve; (ii) supply

(B) (i) Expectation augmented Phillips curve; (ii) demand

(C) (i) Phillips-Okun’s curve; (ii) supply

(D) (i) Phillips-Okun’s curve; (ii) demand

Q.35 In an economy, which one of the following relates private investment to the stock
market?

(A) Neo-classical theory of capital accumulation

(B) Capital asset pricing model

(C) Tobin’s 𝑞

(D) Investment accelerator model

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m .co

m .co s emEconomics (XH-C1)
se g la
a
Q.36 Suppose, a random variable 𝑋 follows a Normal distribution with mean 𝜇, and
variance 𝜎 2 . The variance of the distribution is unknown. For testing 𝜇 = 10
against the alternative 𝜇 > 10, the distribution of the test statistic is

m
c o m m .co
m . distribution s e
a
(A) Standard Normal
s e l
(B)
g l a
Student’s t distribution ag
a
(C) Normal distribution

(D) F distribution

m
Q.37
m .co
The Factorization theorem of Neyman is used to identify

s e
g la
a
(A) consistent statistic

(B) efficient statistic

(C) sufficient statistic

m
m .co
(D) unbiased statistic

m .co s e m
s e g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.38 Match Column I with Column II

Column I Column II
P Rostow 1 Expanding variety model
Q Schumpeter 2 Rural-urban migration
R Harris-Todaro 3 Stages of development
S Grossman-Helpman 4 Creative-destruction

(A) (P3), (Q 1), (R 2), (S 4)

(B) (P 3), (Q 4), (R 2), (S 1)

(C) (P 2), (Q 1), (R 3), (S 4)

(D) (P 2), (Q 4), (R 3), (S 1)

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m .co s emEconomics (XH-C1)
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a
Q.39 Goods that come under the purview of “tragedy of commons” are (i)_____ and
(ii)_____.
Which one of the following combinations of (i) and (ii) makes the above sentence
correct as per the economic theory?

m
c o m m .co
m . (ii) excludable s e
(A)
e
(i) non-rivalrous;
s l a
g a
(i)l rivalrous; (ii) excludable ag
(B)
a
(C) (i) non-rivalrous; (ii) non-excludable

(D) (i) rivalrous; (ii) non-excludable

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m .co
s e
g la
a

m
m .co
m .co s e m
s e g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.40 Consider a two-variable (𝑥, 𝑦) linear regression model given in Equations (1) and
(2) below. The error term, 𝑢𝑡 , of Equation (1) is serially correlated as given in
Equation (2). The error term, 𝘀𝑡 , of Equation (2) is white noise. All other
assumptions of the Classical Linear Regression Model (CLRM) hold. Then, which
of the following options is/are FALSE?

𝑦𝑡 = 𝛼 + 𝛽𝑥𝑡 + 𝑢𝑡 (1)

𝑢𝑡 = 𝜌𝑢𝑡−1 + 𝘀𝑡 ; 0 < 𝜌 < 1 (2)

(A) Ordinary Least Squares estimators of the parameters in Equation (1) are biased

(B) Ordinary Least Squares estimators of the parameters in Equation (1) are
asymptotically normally distributed

(C) Ordinary Least Squares estimators of the parameters in Equation (1) are efficient

(D) Ordinary Least Squares estimators of the parameters in Equation (1) are consistent

Q.41 Suppose, a random variable 𝑋 follows a Poisson distribution with parameter
𝜆 = 25. The coefficient of variation of the distribution is __________ (rounded
off to two decimal places)

Q.42 You and three of your friends go to a restaurant for dinner. All four of you agree
to divide the total bill equally amongst yourselves. One of your friends orders a
dish worth INR 400. The marginal cost for ordering the dish for each one of you
in INR is _________ (in integer)

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m .co s emEconomics (XH-C1)
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a
Q.43 The inverse demand function for the first book on “Economics of Digital Public
Infrastructure in India” is given by 𝑝 = 200 − 0.002𝑄; where, 𝑝 is the price of
the book, and 𝑄 is the number of books purchased. The publisher’s marginal cost
is 60 + 0.0168𝑄. The author’s royalty is 25% of the total revenue. The optimal
m
.co
price of the book from the author’s perspective is _____________ (in integer)
m
.co
mcurrency-deposit ratio is 0, and the reserve-deposit ratio is 0.5, then the las e m
Whenethe
Q.44
l as a g
ag
value of the money multiplier is ______ (in integer)

m
m .co
s e
g la
a

m
m .co
m .co s e m
s e g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.45 to Q.65 Carry TWO marks Each

Q.45 Two companies, Company 1 and Company 2, are playing a simultaneous-move game.
They are selling competing devices, whose quantity demanded are given by 𝑥1 and
𝑥2 , and their prices are 𝑝1 and 𝑝2 , respectively. The demand equation for the device
of Company 1 is 𝑥1 = 300(90 − 0.5𝑝1 + 0.25𝑝2 ), and that of Company 2 is
𝑥2 = 300(90 − 0.5𝑝2 + 0.25𝑝1 ). The cost of production of both devices is zero.
Each company is interested in maximizing its own profit.

Which one of the following price combinations constitutes the Nash equilibrium of
the game?

(A) 𝑝1 = 90, 𝑝2 = 90

(B) 𝑝1 = 120, 𝑝2 = 120

(C) 𝑝1 = 45, 𝑝2 = 45

(D) 𝑝1 = 105, 𝑝2 = 75

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m .co

m .co s emEconomics (XH-C1)
se g la
a
Q.46 Match Column I with Column II

Column I Column II

P e-Nam 1 Working capital loan

2 A seed capital of INR 40,000, and
m
.co
Q PM Micro Food Processing
m 50% branding/marketing grant

.co
Scheme
3 Loan up to INR 2 lakhs at 4%
e m
s
R Adivashi Mahila Sashaktikaran
e
Yojna m interest
l a
l as
S Swayam Shakti Sahakar Yojna 4 Innovative agricultural
ag
ag technologies and price discovery
mechanism

(A) (P 3), (Q 2), (R 4), (S 1)

m
.co
(B) (P 4), (Q 2), (R 3), (S 1)

(C)
e m
s
(P 1), (Q 2), (R 4), (S 3)

g l3)a
a
(D) (P 4), (Q 1), (R 2), (S

Q.47 Suppose that 𝑋1, 𝑋2 , 𝑋3 and 𝑋4 are independent random variables with common
distribution 𝑁(4, 12). Observations 𝑥1 = 6, 𝑥2 = 3, 𝑥3 = 1, and 𝑥4 = 10 correspond
to 𝑋1, 𝑋2 , 𝑋3 and 𝑋4, respectively. What is the sample mean and its sampling
m
m .co
distribution?

m .co s e m
s e g l a
g la (A) 4 and 𝑁(4, 3)
a
a (B) 5 and 𝑁(4, 3)

(C) 4 and 𝑁(5, 12)

(D) 5 and 𝑁(4, 12)

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.48 Which one of the following combinations of simultaneous policy actions is NOT
possible?

(A) Country A allows full international capital mobility, conducts an independent
monetary policy, and follows a floating exchange rate regime

(B) Country A allows full international capital mobility, conducts an independent
monetary policy, and follows a fixed exchange rate regime

(C) Country A allows full international capital mobility, cannot conduct an independent
monetary policy, and follows a fixed exchange rate regime

(D) Country A does not allow full international capital mobility, conducts an independent
monetary policy, and follows a fixed exchange rate regime

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m .co s emEconomics (XH-C1)
se g la
a
Q.49 Match Column I with Column II

Column I Column II
1 When a firm charges lower
P Infant Industrialization prices in the export market than in
m
c o m the domestic market
m .co
Q High
m . Performing Asian Economy 2 Industrialized not via import
s e
s e
substitution but via export
l a
a ag
promotion of manufactured goods

g lR National Procurement 3 New industries need a temporary
a period of protection from foreign
companies
4 Government or publicly regulated
S Dumping firms are directed to purchase
expensive domestic goods than
cheap imports

m
m .co
(A)
s e
la
(P 3), (Q 2), (R 1), (S 4)

(B) g
a 1)
(P 3), (Q 2), (R 4), (S

(C)
(P 3), (Q 1), (R 4), (S 2)

(D)
(P 4), (Q 2), (R 1), (S 3)

m
m .co
m .co s e m
s e g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.50 Consider a Solow growth model with the production function 𝑌𝑡 = 𝐾𝑡𝛼 𝑁𝑡1−𝛼 ;

0 < 𝛼 < 1; where, 𝑌𝑡 is aggregate output at time 𝑡; 𝐾𝑡 is aggregate capital stock at
time 𝑡; 𝑁𝑡 is the number of workers at time 𝑡. There is population growth but no
technology growth. Let 0 < 𝑠 < 1 be the savings rate, 0 < 𝑛 < 1 be the population
growth rate, and 0 < 𝛿 < 1 be the rate of depreciation of capital stock.

What is the growth rate of aggregate output at steady state?

(A) 𝑛

(B) 𝑠+𝑛

(C) 𝑛+𝛿

(D) 0

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a
Q.51 Consider the following IS-LM model where, 𝐶0 is autonomous consumption, 𝑐 is
marginal propensity to consumption, 𝑇0 is the autonomous tax, 𝑡 is the tax rate on
income 𝑌, 𝑏 is the interest sensitivity of investment to real interest rate 𝑟, 𝑀 𝑆 is
exogenously determined nominal money supply, 𝑃 is the aggregate price level, 𝑙1 is
the income sensitivity of money demand to income, 𝑙2 is the interest sensitivity of
m
money demand
c o m m .co
m . function: 𝐶 = 𝐶 + 𝑐𝑌 ; 0 < 𝑐 < 1 𝑑
s e
a
Consumption
e Income: 𝑌 = 𝑌 − 𝑇
0

s l
a ag
𝑑

l function: 𝑇 = 𝑇 + 𝑡𝑌; 0 < 𝑡 < 1
Disposable

agTax 0

Investment function: 𝐼 = 𝐼0 − 𝑏𝑟; 𝑏 > 0
𝑀𝑆
LM equation: 𝑃 = 𝑙1 𝑌 − 𝑙2 𝑟; 𝑙1 > 0, 𝑙2 > 0

Closed economy without government: 𝑌 = 𝐶 + 𝐼

om
𝜕𝑌
Which one of the following options gives the investment multiplier ( )?
. c 𝜕𝐼0

e m
las
(A) 1
1 − 𝑐(1 − 𝑡) ag
(B) 1
𝑙
[1 − 𝑐(1 − 𝑡)] + ( 1 ) 𝑏
𝑙2

(C) 1
𝑙
(1 − 𝑐) + ( 1 ) 𝑏
𝑙2 m
m
c. o(D) 𝑙1 m.co
m
1 − 𝑐(1 − 𝑡) + ( ) 𝑏
s e
s e 𝑙2
g l a
g la a
a

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.52 The estimated energy demand is given in the Equation below, where, 𝑦̂𝑡 is the
estimated value of the log of energy demand at time 𝑡. The numbers in the
parentheses are the values of the 𝑡-statistic of the corresponding coefficients.
𝑦̂𝑡 = 1.24 + 0.56 ln(GDP𝑡 ) − 0.03 ln(energyprice𝑡 )
(10.73) (7.28) (5.28)

Which one of the following statements is CORRECT?

(A) Demand for energy is price inelastic

(B) Demand for energy is price elastic

(C) Demand for energy is unit elastic

(D) Sufficient information has not been provided to calculate price elasticity

Q.53 In terms of the general relations among total cost, average cost and marginal cost,
which of the following statements is/are FALSE?

(A) When the total cost is rising, the marginal cost is also rising

(B) When the marginal cost is rising, average cost is also rising

(C) When the total cost is rising, the marginal cost is positive

(D) When the marginal cost remains unchanged, the average cost also remains unchanged

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m .co s emEconomics (XH-C1)
se g la
a
Q.54 Which of the following statements concerning Millennium Development Goals
(MDGs) and Sustainable Development Goals (SDGs) is/are CORRECT?

m
m .co
.co
(A) MDGs had 8 enumerated goals, and SDGs have 17
e m
s em are considered less comprehensive compared to the SDGs in terms ofgthelas
la of issues covered
(B) The MDGs

g a
a
range

(C) Both MDGs and SDGs are meant exclusively for developing countries

(D) SDGs were introduced after the world achieved the targets specified by the MDGs

o m
Q.55
. c
Nominal exchange rate is defined as the amount of domestic currency that can fetch
one unit of foreign currency. Supposem
s e that there is a fall in nominal exchange rate.

g la is/are TRUE?
Which of the following statements
a

(A) Appreciation of domestic currency with respect to foreign currency

(B) Depreciation of domestic currency with respect to foreign currency

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(C) Fall in the price of foreign currency in terms of domestic currency
m
c. o(D) s e m
e m Rise in the price of foreign currency in terms of domestic currency
l a
las ag
ag

m .
.co s e m
s em l a
la
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Economics (XH-C1)

Q.56 Which of the following statements is/are INCORRECT?

(A) According to the Periodic Labour Force Survey 2023-24, the agricultural sector
remains dominant in providing employment

(B) The share of female workforce in agriculture has significantly increased in the
financial year 2023-24 relative to the financial year 2017-18

(C) The male participation in the agriculture employment decreased in the financial year
2023-24 relative to the financial year 2017-18

(D) The share of industry and service sector saw an increment in the employment share in
the financial year 2023-24 relative to the financial year 2017-18

Q.57 Which of the following statements is/are CORRECT?

(A) India’s total exports (merchandise and services) have shown positive growth in the
first nine months of the financial year 2024-25

(B) India’s merchandise imports grew by 5.2% during April to December 2024, and this
increase was largely due to a rise in non-oil, non-gold imports

(C) India’s service sector exports declined in the first nine months of the financial year
2024-25

(D) The recent rise in India’s current account deficit can be attributed to an increase in the
service trade deficit

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a
Q.58 In the town of Belapur, 5000 used cars are available for sale. The cars vary in quality
and only the car owners know the true worth of their car. All used cars look the same
to potential buyers. If a car is of quality 𝑥, then the original owner is ready to sell it
for any price greater than or equal to 𝑥. For a buyer, the expected worth of a car is

m
.co
equal to half of the number of cars selling in the market. As the buyer does not know

o m m
c
the exact quality of the car, he is willing to pay a price that is equal to 1000 more than

m . s e
s e
the expected worth of the car. At the equilibrium, the number of cars that remain
g l a
g l a
unsold in the market is ________ (in integer)
a
Q.59
a Suppose that Ritwick owns two plants, Plant 𝑋 and Plant 𝑌. Both plants produce the
same industrial good. The marginal cost to produce at Plant 𝑋 is 4 + 2𝑄𝑋 ; where, 𝑄𝑋
is the quantity produced in Plant 𝑋, and the marginal cost to produce at Plant 𝑌 is
40 + 𝑄𝑌 ; where, 𝑄𝑌 is the total quantity produced in Plant 𝑌. If Ritwick plans to
produce 15 units of this good, the amount of the good produced in Plant 𝑌 is
m
.co
_________ (in integer)

s em
Consider the function 𝐺(𝑥, 𝑦, 𝑧) = 0. This function allows us to implicitly define
la of the other two variables. Assume that all partial
Q.60

a g
each of three variables as a function
derivatives of the function 𝐺(𝑥, 𝑦, 𝑧) exist everywhere. Then, the value of
𝜕𝑧 𝜕𝑥 𝜕𝑦
( × × ) is _________ (in integer)
𝜕𝑥 𝜕𝑦 𝜕𝑧

Q.61 The market for torch is perfectly competitive. The market demand function for torch
is given by 𝑋 𝑑 = min(400 − 𝑝, 0), 𝑝 ≥ 0, where 𝑝 is the price of a torch. The market
m
.co
𝑝 80
supply for the same good is 𝑋 𝑠 = max (0, ( − )) , 𝑝 ≥ 0. If a specific tax of 40 is
m
.co
7 7

e m
s
imposed on the purchase of each unit of torch, the corresponding decrease in the
e m l a
las g
consumer surplus is _______ (rounded off to one decimal place)
a
ag Q.62 An individual lives for two periods, Period 1 and Period 2. In Period 1, her income is
210, and in Period 2, her income is 0. She saves in Period 1 and earns a real interest
rate of 10% on these savings in Period 2. She does not save anything in Period 2. She
consumes equal amounts in both the time periods. Her consumption in the current
period is ________ (in integer)

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.co s e m
s em l a
la
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Economics (XH-C1)

Q.63 𝑀
The money demand function is = 800 + 0.3𝑌 − 2000𝑖; where, 𝑀 is nominal
𝑃

money supply, 𝑃 is the aggregate price level, 𝑌 is the real GDP, and 𝑖 is the nominal
interest rate. Suppose that 𝑌 = 2000, and 𝑖 = 0.20.

The velocity of money is ________ (in integer)
Q.64
Consider the estimated regression Equation below, where, 𝑦̂𝑡 is the estimated value of
the log (to the base 𝑒) of real GDP at time 𝑡. The numbers in the parentheses are the
value of the 𝑡-statistic of the corresponding coefficients.

𝑦̂𝑡 = 6.20 + 0.05 𝑡
(10.25) (4.62)

The growth rate of real GDP (in %) is _________________ (rounded off to the
nearest integer)

Q.65
Table 1 Table 2
P1/P2 X Y Z P1/P2 X Y Z
A 2,1,2 0,0,2 1,2,3 A 2,1,3 1,0,3 1,0,4
B 0,3,1 2,2,4 3,1,0 B 1,2,1 3,3,3 1,1,1
C 1,1,1 3,2,1 2,2,2 C 1,2,1 1,0,0 2,1,2

Table 1 and Table 2 represent a 3-player game. The payoff (a, b, c), in each cell,
represents Player 1, Player 2, and Player 3’s payoffs respectively. Player 1 (P1)
decides to play either A, B, or C. Player 2 (P2) decides to play either X, Y, or Z.
Player 3 (P3) decides between Table 1 and Table 2.

The number of Nash equilibrium in pure strategy in this game is _______ (in integer)

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