(Download) UPSC IAS Mains Exam 2020 Economics (Paper-1)
Exam Name: UPSC IAS Mains Economics (Paper-I)
Time Allowed: 3 Hours
Year : 2020
Q1. Answer the following questions in about 150 words each :
(a) Explain how equilibrium rate of interest and income are determined with the interaction of both product and money market.
(b) Distinguish between post-Keynesian approaches to horizontalist and structuralist theory of endogenous money supply.
(c) Explain how renewable resources will play a role in future economics.
(d) Mention the classification of assets held by a commercial bank. Discuss the problems faced by commercial bank due to rise in NPAs.
(e)Explain Myrdal's cumulative causation theory as the theory for development.
Q2.(a) What is conjectural variation? Show how some models of oligopoly are derived on the basis of it.
(b) Show that systematic monetary and fiscal policies are ineffective in controlling output and price level.
(c) (i) What makes technical progress endogenous? Do you think that technology is a 'non-rival' good?
(ii) Show that if the research becomes more successful, the growth rate will increase and hence the standard of living.