MAHA SET 2018 Question Paper 3 Economics

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2

ECONOMICS
Paper III

III
Time Allowed : 2½ Hours] [Maximum Marks : 150
Note : This Question Paper contains Seventy Five (75) multiple choice questions.
Each question carries Two (2) marks. Attempt All questions.
(75) (2)

1. The precision of OLS estimator is 1.
measured by their :

(A) Mean (A)

(B) Mode (B)

(C) Standard errors (C)

(D) Sign (D)

2. Which one of the following is not a 2.
part of classical assumptions, in
regression analysis ?

(A) Values taken by dependent (A)
variable Y is fixed in repeated
sampling

(B) Regression model is linear in (B)
parameters

(C) Error term has zero mean
(C)
(D) Error term has a constant
variance (D)

3 [P.T.O.

3. If the estimated ˆ 2 is equal to the 3. ˆ
2 2
hypothesized 2, the ‘t’ value will be ‘ t’
equal to :

(A) 0 (A) 0

(B) 1 (B) 1

(C) 30 (C) 30

(D) Standard error of ˆ 2 (D) ˆ 2

4. Which of the following are plausible
4.
approaches to dealing with a model
that exhibits ‘heteroscedasticity’ ?

(i) Take logarithms of each of the (i)
variables
(ii)
(ii) Use suitably modified standard
errors
(iii)
(iii) Use generalised least squares
(iv)
procedure

(iv) Add logged values of the
variables to the regression
(A) (ii) (iv)
equations

(A) (ii) and (iv) only (B) (i) (iii)

(B) (i) and (iii) only
(C) (i), (ii) (iii)
(C) (i), (ii) and (iii) only
(D) (i), (ii), (iii) (iv)
(D) (i), (ii), (iii) and (iv)
4

5. Non-stationary time series is one 5.
with :

(A) Time varying mean (A)

(B) Time varying variance (B)

(C) Both (A) and (B) (C) (A) (B)

(D) Time invariant mean and (D)
variance

6. What can you say about the 6.
following statements ?
(i)
(i) Cournot’s duopoly model
assumes homogeneous product
of producers.
(ii)
(ii) Cournot assumes price of the
rival producer constant.
(A) (i) (ii)
(A) Both statement (i ) and
statement (ii) are incorrect
(B) (i) (ii)
(B) Both statement (i ) and
statement (ii) are correct

(C) Statement (i) is incorrect and (C) (i) (ii)

statement (ii) is correct

(D) Statement (i) is correct and (D) (i) (ii)

statement (ii) is incorrect

5 [P.T.O.

7. In case Reserve Bank starts selling 7.

government bonds, then :

(A) LM curve shifts to the left (A) LM

(B) LM curve becomes vertical (B) LM

(C) LM curve becomes horizontal (C) LM

(D) LM curve shifts to the right (D) LM

8. If the investment function becomes
8.

interest inelastic at a low rate of
IS
interest, the corresponding IS curve

becomes : (A)

(A) Horizontal
(B)

(B) Upward sloping

(C)
(C) Vertical

(D)
(D) Flatter

6

9. Statement I : 9. I :

Oligopoly is a situation where a few
large firms compete against each
other.

Statement II : II :

Under oligopoly there is an element
of interdependence in the decision-
making of competing firms.

(A) Statement I is true but the (A) I II
Statement II is false

(B) Statement I is false but the (B) I II
Statement II is correct

(C) Both the Statement I and (C) I II
Statement II are correct

(D) Both the Statement I and (D) I II
Statement II are false

10. Monopoly power refers to the : 10.
(A) Restraints imposed by the
(A)
competitors on each other
(B)
(B) Restraints imposed over
competitors by the price maker

(C) Restraints imposed on the (C)
quantity of production by each
other
(D)
(D) Restraints imposed on prices of
production of each other
7 [P.T.O.

11. Offshore currency deposits are 11.

usually referred to as :

(A) Euro bonds (A)

(B) Euro currencies (B)

(C) Euro banks (C)

(D) Euro deposits (D)

12. According to the Product Cycle 12.

Hypothesis, innovation leads to

................................ for the innovating

country.

(A)
(A) absolute monopoly

(B)
(B) relative monopoly

(C)
(C) temporary monopoly

(D) long-term monopoly (D)

8

13. Hedging refers to : 13.

(A) The acceptance of foreign
(A)

exchange risk
(B)
(B) The covering of foreign

exchange risk

(C)
(C) Foreign exchange arbitration

(D) Foreign exchange speculation (D)

14. Name the Economist represented 14.

United States at the Bretton Woods

Conference :
(A)
(A) Marriner S. Eccles

(B)
(B) Paul A. Samuelson

(C)
(C) John Maynard Keynes

(D) Harry Dexter White (D)

9 [P.T.O.

15. Statement I : 15. I :

Prior to Greek debt crisis, many
German banks helped finance
Greece’s debt and Greece knew
very well that the IMF and the
Western States would have to use
bailout funds to bear the lost of
Greece’s failure.

Statement II : II :

The idea of single currency market
had an unrealistic assumption of
perfect information and ignored
that in real world information is
imperfect.
(A) I II
(A) Both the Statements I and II
are correct and Statement II is II I

the reason for Statement I

(B) Both the Statements I and II (B) I II
are correct and Statement I is I II
the reason for Statement II

(C) Both the Statements I and II
(C) I II
are correct but no statement is
reason to the other

(D) Statement I is correct but
Statement II cannot be the (D) I II

reason for Statement I I

10

16. The upper and lower Minimum 16. 31-12-2013
Wage Rates which are applicable
for Agricultural labourers fixed
by the Central Government as on
31-12-2013 were :
(A) 465.00 186.00
(A) Rs. 465.00 and Rs. 186.00
(B) Rs. 437.00 and Rs. 165.00 (B) 437.00 165.00

(C) Rs. 439.00 and Rs. 195.00 (C) 439.00 195.00

(D) Rs. 432.00 and Rs. 188.00 (D) 432.00 188.00
17. Which one of the following is not the 17.
salient feature of the APMC Model 2003
Act, 2003 ?
(A) Permission to farmers to
establish new markets in any (A)
area.
(B) No compulsion to farmers to sell (B)
their produce through existing
regulated markets.
(C) Setting up of farmers-
consumer markets for direct (C)
sale.
(D) To facilitate processing at the
(D)
place of marketing and promote
exports.
18. In Indian agriculture farm size and 18.
productivity show :
(A) Inverse relationship (A)
(B) Positive relationship (B)
(C) Neither inverse nor positive
(C)
relationship
(D)
(D) Fluctuating relationship
11 [P.T.O.

19. What can you say about the 19.
following statements ?
(i)
(i) NABARD was established in
July 1982 for taking over the
functions of Agricultural 1982
Refinance and Development
(ii)
Corporation (ARDC).

(ii) NABARD extends refinancing
facilities to all scheduled banks (A) (i) (ii)
in India.

(A) Statement (i) is correct and
statement (ii) is incorrect (B) (i) (ii)

(B) Statement (i) is incorrect and
statement (ii) is correct (C) ( i) (ii)
(C) Both the statements (i) and (ii)
are correct
(D) ( i) (ii)
(D) Both the statements (i) and (ii)
are incorrect

20. As per the views of the National 20.
Advisory Council, the food security 2013
legislation 2013 was expected to
cover ........................... population of
country.
(A) 68
(A) 68 percent

(B) 75 percent (B) 75

(C) 83 percent (C) 83

(D) 89 percent (D) 89
12

21. What can you say about the 21.

following statements ?
(i)

(i) Planning Commission in India

was a statutory body.
(ii)

(ii) Finance Commission in India is

a permanent advisory body.
(A) (i) (ii)
(A) Statement (i) is correct and

statement (ii) is incorrect

(B) (i) (ii)
(B) Statement (i) is incorrect and

statement (ii) is correct

(C) (i) (ii)
(C) Both the statements (i) and (ii)

are correct

(D) (i) (ii)
(D) Both the statements (i) and (ii)

are incorrect

13 [P.T.O.

22. What can you say about the 22.
following statements ?
(i)
(i) The share of rural incomes in
India’s GDP is falling during
recent time.
(ii)
(ii) The share of organized sector in
India’s GDP is rising during
recent time.
(A) (i) (ii)
(A) Both (i) and (ii) statements are
incorrect
(B) (i) (ii)
(B) Statement (i) is correct and
statement (ii) is incorrect

(C) Both (i) and (ii) statements are (C) (i) (ii)

correct

(D) Statement (i) is incorrect and (D) (i) (ii)

statement (ii) is correct

23. Global warming in the world is 23.
majorly due to :

(A) Hot Summers (A)

(B) Green-house Effects (B)

(C) Erratic Summers (C)

(D) Irregular Monsoons (D)
14

24. Tarapore Committee was associated 24.

with which one of the following ?

(A) Special Economic Zones (A)

(B) Full Capital Account (B)

Convertibility of Rupee

(C) Foreign Exchange Reserves (C)

(D) Effect of oil prices on the Indian (D)

Economy

25. Fill in the blanks : 25.

Census of Literacy rate

India in India

(percentage)

1991 ? 1991 ?

2001 ? 2001 ?

2011 ? 2011 ?

(A) 52.2 64.8 74.1 (A) 52.2 64.8 74.1

(B) 50.1 62.0 70.3 (B) 50.1 62.0 70.3

(C) 55.5 65.5 76.7 (C) 55.5 65.5 76.7

(D) 54.2 66.8 76.1 (D) 54.2 66.8 76.1

15 [P.T.O.

26. While production goes on, the 26.
Marginal Fixed Cost (MFC) is
always :
(A)
(A) rising
(B)
(B) falling
(C)
(C) negative
(D) zero (D)

27. The book “Value and Capital” is 27.
authored by :
(A) Tapas Majumdar (A)

(B) R.G.D. Allen (B)

(C) J.R. Hicks (C)

(D) Joan Robinson (D)

28. (i) An individual labour invariably 28. (i)
shows backward bending supply
curve.
(ii)
(ii) Supply of labour to an industry
shows high elasticity.
What can you say of these
statements ? (A) (i) (ii)
(A) Both statements (i) and (ii) are
correct
(B) (i) (ii)
(B) Both statements (i) and (ii) are
incorrect
(C) (i) (ii)
(C) Statement (i) is incorrect and
statement (ii) is correct
(D) Statement (i) is correct and (D) (i) (ii)
statement (ii) is incorrect
16

29. In the long-run profit maximising 29.

firm will choose to exit a market

when :

(A) Fixed costs exceed sunk costs (A)

(B) Average fixed cost is rising (B)

(C) Total Revenue (TR) from (C)

production is less than Total (TR) (TC)

Cost (TC)

(D) Marginal cost is above average (D)

cost

30. Demand for factors of production 30.

is :

(A) Derived demand (A)

(B) Joint demand (B)

(C) Cross demand (C)

(D) Net demand (D)

17 [P.T.O.

31. Rigid money wage in complete 31.
Keynesian model generates :

(A) Downward sloping aggregate
supply curve

(B) Upward sloping aggregate (A)

supply curve
(B)
(C) Vertical aggregate supply curve
(C)
(D) Horizontal aggregate supply
curve (D)

32. Choose the right answer from the 32.
options A to D given below :
(S) :
Assertion (S) :

In the classical model, no
equilibrium other than full-
(R) :
employment is possible.

Reasoning (R) :

This is ensured by a positively sloped
AS curve and a negatively sloped (A) (S) (R)

AD curve.

(A) (S) is correct and (R) is correct (B) (S) (R)

(B) (S) is correct and (R) is incorrect

(C) (S) is incorrect and (R) is correct (C) (S) (R)

(D) (S) is incorrect and (R) is
incorrect (D) (S) (R)

18

33. In Mundell Fleming open economy 33.
model, if exchange rate is flexible,
then fiscal policy is a failure
because :
(A)
(A) Balance of payments is in
deficit, currency depreciates and
net exports go up
(B)
(B) Balance of payments is in
deficit, currency appreciates and
net exports go down
(C)
(C) Balance of payments is in
surplus, currency appreciates
and net exports go down

(D) Balance of payments is in (D)

surplus, currency depreciates
and net exports go down

34. Which one of the following is not a 34.
determinant of money multiplier in
an economy ?
(A)
(A) Currency to Deposit ratio
(B)
(B) Excess reserve ratio
(C)
(C) Required cash reserve ratio

(D) Consumption to currency ratio (D)

19 [P.T.O.

35. Duesenberry’s relative income 35.
hypothesis rests on the assumption
that utility function of an individual
is influenced by :

(A) Average consumption of the
economy (A)

(B) Marginal consumption of the (B)
economy
(C)
(C) Only lowest value of
consumption of the economy
(D)
(D) Only highest value of
consumption of the economy

36. Prof. Gunnar Myrdal combines 36.
national and international forces to
discuss process of economic
development on the basis of :

(A) Export and import potential

(B) Backwash effects and spread
(A)
effects
(B)
(C) Income inequalities in the
economy
(C)
(D) Demand and supply forces in
(D)
the economy
20

37. According to Prof. Higgins the use 37.

of different production functions in

advanced sector and traditional

sector of an underdeveloped

economy is referred as .........................

dualism.

(A)
(A) Financial

(B)
(B) Social

(C) Technical (C)

(D) Credit (D)

38. The concept of Physical Quality of 38. (PQLI)

Life Index (PQLI) was developed

by :

(A) S. Kuznet (A)

(B) R. Nurkse (B)

(C) Arthur Lewis (C)

(D) M.D. Morris (D)

21 [P.T.O.

39. ............................. techniques tend to 39.

accelerate the rate of capital

formation and maximum productive

capacity and employment in the

long-run in developing countries like

India.
(A)

(A) Capital intensive
(B)
(B) Labour intensive
(C)
(C) Appropriate technology

(D) Intermediate technology (D)

40. The Gini coefficient provides a 40.

measure of :

(A) The level of poverty
(A)
(B) The level of relative income

inequality (B)

(C) The level of disguised
(C)
unemployment

(D)
(D) The level of economic growth

22

41. Tax buoyancy is measured as a 41.

ratio of :

(A) Growth in tax revenue to the (A)

growth in GDP

(B) Growth in non-tax revenue to (B)

the growth in gross tax revenue

(C) Growth in revenue to growth in (C)

total expenditure

(D) Growth in total expenditure to (D)

growth in GDP

42. ‘Shifting of tax’ is seen in case of 42.

............................. taxes.

(A) Direct (A)

(B) Indirect (B)

(C) International (C)

(D) Local (D)

23 [P.T.O.

43. The concept of ‘Zero Base Budget’ 43.

was first used in :

(A) America (A)

(B) Australia (B)

(C) Germany (C)

(D) France (D)

44. The fiscal deficit is not financed 44.
through :

(A) Proceeds from State Provident
(A)
Fund
(B)
(B) Treasury Bills
(C)
(C) Dated Securities

(D) Debt raised under Market (D)

Stabilization Scheme

45. The proceeds collected under Article 45.

271 of the constitution are retained
by :

(A) State Governments (A)

(B) Union Government (B)

(C) Urban Local Bodies (C)

(D) Rural Local Bodies (D)
24

46. Statement I : 46. I :

Initial phase of trade liberalisation
in India led to an increase in
employment opportunities.
II :
Statement II :

Later phase of trade liberalisation
in India resulted into a Jobless
growth. (A) I II

(A) Both the Statement I and
Statement II are correct
(B) I II
(B) Both the Statement I and
Statement II are false
(C) I II
(C) Statement I is true but the
Statement II is false

(D) Statement I is false but the (D) I II

Statement II is correct

47. In the Balance of Payment accounts, 47.
transfer payments are included in
the :

(A) Current Account (A)

(B) Service Account (B)

(C) Capital Account (C)

(D) Official Resources Account (D)

25 [P.T.O.

48. To which of the following would the 48.
mercantilists have objected ?

(A) Free trade
(A)
(B) Stimulating exports
(B)
(C) Restricting imports
(C)
(D) Accumulation of gold by their
(D)
nation
49. I :
49. Statement I :

International trade allows creation
of an integrated market.

Statement II : II :

The international market which
emerges as a result of international
trade distorts competition.
(A) I II
(A) Statement I is true but the
Statement II is false
(B) I II
(B) Both the Statement I and
Statement II are true
(C) I II
(C) Statement I is false but the
Statement II is true

(D) Both the Statement I and (D) I II

Statement II are false
26

50. Dumping occurs when : 50.

(A) Firm charges higher price on
exports than it charges
(A)
domestically

(B) Firm charges lower price
domestically than it charges for (B)

exports

(C) Firm charges lower price on
(C)
exports than it charges
domestically
(D)
(D) Firm charges different prices on
exports in different countries

51. As per the RBI definition, money 51.
supply with the public in India (M1) (M1)
is defined as :

(A) Currency with the public +
(A) +
Deposit money with the public

(B) Currency with the public + Post
(B) +
office saving deposits

(C) Notes and coins in circulation
(C)
(D) Notes in circulation + demand
deposits of banks (D) +

27 [P.T.O.

52. ............................... is the oldest stock 52.

exchange in India.

(A) NSE (A)

(B) ASE (B)

(C) BSE (C)

(D) DSE (D)

53. In three-tier structure of co-operative 53.

credit institutions, the apex state

level institution is :

(A) RBI
(A)

(B) State Co-operative Bank
(B)

(C) NABARD
(C)
(D) District Central Co-operative

(D)
Bank

28

54. In which situation qualitative 54.
credit controls are effective in the

economy ?
(A)
(A) To control inflation
(B)
(B) To control deflation

(C) To control imports (C)

(D) To control exports (D)

55. (i) RRBs were initially established 55. (i) 1985
in the year 1985 in India.

(ii) RRBs are scheduled Banks.
(ii)
What can you say about these

statements ?

(A) Both (i) and (ii) statements are

wrong (A) (i) (ii)

(B) Both (i) and (ii) statements are (B) (i) (ii)
correct
(C) (i) (ii)
(C) Statement (i) is correct and

statement (ii) is incorrect
(D) (i) (ii)
(D) Statement (i) is incorrect and

statement (ii) is correct

29 [P.T.O.

56. India ranks at the .......................... 56.

place in top producers of steel in the

world.

(A) 6th (A) 6

(B) 4th (B) 4

(C) 5th (C) 5

(D) 7th (D) 7

57. Consequent to the ....................... the 57.

concept of “dominant position” in

industries was introduced in India.

(A) SICA (A) SICA

(B) Competition Act 2002 (B)

(C) MRTP Act (C)

(D) Industrial Policy Resolution

1956 (D)

30

58. Rank, in the descending order of 58.
their intensity, the problems of

industrial development in India
during the planning period :
(i)
(i) regional imbalance
(ii)
(ii) unemployment
(iii)
(iii) poor export performance
(A) (i), (ii), (iii)
(A) (i), (ii), (iii)

(B) (ii), (iii), (i) (B) (ii), (iii), (i)

(C) (iii), (i), (ii) (C) (iii), (i), (ii)

(D) (ii), (i), (iii) (D) (ii), (i), (iii)

59. As per the new classification of 59.
industries the micro-enterprises

should have maximum investment

of Rs. ..................... in manufacturing

enterprises and Rs. ..................... in

service enterprises respectively.
(A) 10 , 5
(A) Rs. 10 lakhs, Rs. 5 lakhs
(B) 15 , 10
(B) Rs. 15 lakhs, Rs. 10 lakhs

(C) Rs. 25 lakhs, Rs. 10 lakhs (C) 25 , 10

(D) Rs. 20 lakhs, Rs. 15 lakhs (D) 20 , 15

31 [P.T.O.

60. Which of the following does not 60.
take part in the money market
transactions in India ?
(1)
(1) Certificate of deposits
(2)
(2) Commercial papers
(3) 90-
(3) 90-days treasury bills
(4)
(4) Mutual fund units
(A) (4)
(A) (4)
(B) (3)
(B) (3)
(C) (1)
(C) (1)

(D) (2) (D) (2)

61. (i) As per 2011 census, 51% of 61. (i) 2011 51
India’s population was urban.

(ii) In USA, today about 78% of
(ii) USA 78
population is urban.

What can you say about these
statements ?

(A) Both statements (i) and (ii) are
(A) (i) (ii)
incorrect
(B) (i) (ii)
(B) Both statements (i) and (ii) are
correct (C) (i) (ii)
(C) Statement (i) is correct but
statement (ii) is incorrect
(D) (i) (ii)
(D) Statement (i) is incorrect but
statement (ii) is correct
32

62. As per 2011 census, India had 62. 2011

....................... million plus cities and

their total population accounted

for ....................... of total urban

population.

(A) 57, 54% (A) 57, 54%

(B) 51, 61% (B) 51, 61%

(C) 53, 44% (C) 53, 44%

(D) 44, 53% (D) 44, 53%

63. Population growth and economic 63.

development have close relationship

is developed through the concept

of :
(A)
(A) Demographic transition
(B)
(B) Optimum population

(C)
(C) Density of population

(D)
(D) Population trap

33 [P.T.O.

64. As per the 2001 and 2011 census of 64. 2001 2011

India the urban : rural population

ratio was .................... and ....................

respectively.
(A) 1 : 2.6, 1 : 2.2
(A) 1 : 2.6, 1 : 2.2
(B) 1 : 2.5, 1 : 2.0
(B) 1 : 2.5, 1 : 2.0

(C) 1 : 2.9, 1 : 2.3
(C) 1 : 2.9, 1 : 2.3

(D) 1 : 2.6, 1 : 2.9
(D) 1 : 2.6, 1 : 2.9

65. Which is the correct descending 65. 2011
order of proportion of urban
population in India as per 2011
census ?

(A) Tamil Nadu, Maharashtra,
Gujrat
(A)
(B) Maharashtra, Tamil Nadu,
Gujrat (B)
(C) Tamil Nadu, Gujrat,
Maharashtra (C)

(D) Gujrat, Tamil Nadu,
Maharashtra (D)

34

66. In India, population employed 66.

in agriculture is approximately

...................... of total Indian workforce

and agricultural exports are about

...................... of total exports.
(A) 48%, 25%
(A) 48%, 25%
(B) 54%, 14%
(B) 54%, 14%
(C) 60%, 30%
(C) 60%, 30%

(D) 50%, 38%
(D) 50%, 38%

67. Which one of the following is not an 67.

objective of National Food Security

Mission (NFSM) ?

(A) Distribution of High Yielding (A)

Variety Seeds

(B) Demonstration of improved

production technology (B)

(C) Strengthening credit facilities
(C)

(D) Popularising newly varieties of
(D)
crops

35 [P.T.O.

68. The classical book ‘Economics of 68.

Agricultural Production and

Resource Use’ is written by :

(A) G.E. Foster (A)

(B) W.W. Wilcox (B)

(C) T.W. Schultz (C)

(D) E.O. Heady (D)

69. The percentage share of agriculture 69. 10

and allied sectors to total outlay in
11 12

India’s 10th, 11th and 12th five

year plans was ...............................

respectively.

(A) 22%, 20.7%, 18.1%
(A) 22%, 20.7%, 18.1%

(B) 20%, 19.7%, 17.3%
(B) 20%, 19.7%, 17.3%

(C) 23%, 20.1%, 19.5% (C) 23%, 20.1%, 19.5%

(D) 23.3%, 20.9%, 20.1% (D) 23.3%, 20.9%, 20.1%

36

70. Which of the following rural schemes 70.

merged with Swarna Jayanti Gram

Swarojgar Yojana ?

(A) TRYSEM and MNP (A) TRYSEM MNP

(B) DPAP and IRDP (B) DPAP IRDP

(C) NREP and RLEGP (C) NREP RLEGP

(D) IRDP and TRYSEM (D) IRDP TRYSEM

71. The total revenue (R) and total 71. (R)

cost (C) functions of a firm are (C)

given by :
R = 30Q – Q2 C = 20 + 4Q
R = 30Q – Q2 C = 20 + 4Q

What would be the equilibrium

output of the firm ?

(A) 9
(A) 9

(B) 13
(B) 13

(C) 17 (C) 17

(D) 11 (D) 11

37 [P.T.O.

72. Non-negativity constraints in a 72.

Linear Programming problem is

represented as :

(A) X 0 and Y 0 (A) X 0 Y 0

(B) X 0 and Y 0 (B) X 0 Y 0

(C) X 0 and Y 0 (C) X 0 Y 0

(D) X 0 and Y 0 (D) X 0 Y 0

73. When the correlation coefficient 73. r = ±1

r = ±1, then the two regression

lines :

(A) Are perpendicular to each other (A)

(B) Coincide (B)

(C) Are parallel to each other (C)

(D) Indeterminate (D)

38

74. For accepting a null hypothesis, the 74.

computed value of a test statistic

should be ............................ than the

critical value.

(A)
(A) Greater

(B)
(B) Less

(C) Superior (C)

(D) Significant (D)

75. To compute the area under a curve 75.

we use the concept of :

(A) Differentiation
(A)

(B) Limits
(B)

(C) Integration
(C)

(D) Probability (D)

39 [P.T.O.

ROUGH WORK

40