UPSC Indian Economic Service (General Economics-I) Exam, 2012 Question Paper

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UPSC Indian Economic Service Exam, 2012 Question Paper
General Economics-I Paper.
Sample Question:

Q.   Answer any eight of the following pa rts. Each answer should be in about 50 wor·ds.                                    
1.   Distinguish  between  Marshallian  and Wah·asian stabili ty analysis.

2.  Discuss    "!\'"ash-equilibrium"    for    non-collu sive firms.

3.   What  are  th e basi c features and  the limitations of Leontiefs input - output model ?

4.  How can you measure income ineq uality by using Lorenz curv e method ?

5.   Suppose you  have  a demand  function  for milk  of the  form  x 1   =  100 + --- and your weekly 100 pl income  ( ml  is 12,000 and  the  price  of  milk  ( p 1l is    20 per litre. Now suppose the price of m ilk falls from 20 to 15 per litre , then what will be the substitution effect ?