CUET PG Economics Previous Paper (2022 Shift-1)

A has absolute advantage in the production of good X as well as Y

D has absolute advantage in the production of both good X and Y

Though A has an absolute advantage in the production of both goods, it has a comparative advantage in the production of Y

Though B has an absolute advantage in the production of both goods, X and Y it has comparative advantage in the production of X

if all agents are at least as well off in B as they were in A and at least one of them is better off.

if all agents are at least as well off in B as they were in A and no one is better off.

if the agent with lower welfare are found to improve their welfare in B in comparison to A even when those with higher level of welfare in A are found to witness decline in welfare.

if in B all the agents are having lower difference in their level of utilities

A-II, B-III, C-I, D-IV

A-III, B-II, C-I, D-IV

A-IV, B-I, C-III, D-III

A-I, B-IV, C-III, D-III

A-I, B-II, C-IV, D-III

A-IV, B-III, C-II, D-I

A-I, B-III, C-II, D-IV

A-IV, B-II, C-III, D-I

A-I, B-II, C-III, D-IV

A-II, B-III, C-IV, D-I

A-II, B-IV, C-III, D-I

A-IV, B-III, C-II, D-I

Both A and R are correct and R is the correct explanation of A

Both A and Rare correct but R is NOT the correct explanation of A

A is correct but R is not correct

A is not correct but R is correct

A-III, B-II, C-IV, D-I

A-IV, B-II, C-I, D-III

A-III, B-I, C-IV, D-II

A-III, B-IV, C-II, D-I

A-III, B-IV C-II, D-I

A-I, B-II, C-III, D-IV

A-IV, B-III, C-II, D-I

A-II, B-I, C-IV, D-III

A-III, B-IV , C-II, D-I

A-I, B-II, C-IV, D-III

A-IV, B-III, C-II, D-I

A-II, B-I, C-III, D-IV

Both Statement I and Statement II are correct.

Both Statement I and Statement II are incorrect.

Statement I is correct but Statement II is incorrect.

Statement I is incorrect but Statement II is correct.