Half Yearly Model Question Paper 2019

12th Standard EM

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Economics

Time : 02:30:00 Hrs
Total Marks : 90

    Part I

    Answer all the questions.

    Choose the most suitable answer from the given four alternatives and write the option code with the corresponding answer.

    20 x 1 = 20
  1. Who is regarded as Father of Modern Macro Economics

    (a)

    Adam Smith

    (b)

    J M Keynes

    (c)

    Ragnar Frisch

    (d)

    Karl Marx

  2. Planning is an integral part of a Capitalist economy.
    In socialist system, all decisions are undertaken by the central planning authority

    (a)

    Both (A) and (R) are true and (R) is the correct explanation of (A).

    (b)

    Both (A) and (R) are true, but (R) is not the correct explanation of (A)

    (c)

    (A) is true, but (R) is false

    (d)

    (A) is false, but (R) is true

  3. Which of the following amount is available for households for their consumption?

    (a)

    Disposable Income

    (b)

    Personal Income

    (c)

    Percapita Income

    (d)

    None of above

  4. Every able bodied person who is willing to work at the prevailing wage rate is employed called as ___________

    (a)

    Full employment

    (b)

    Under employment

    (c)

    Unemployment

    (d)

    Employment opportunity

  5. The natural rate of unemployment equals the sum of those who are:

    (a)

    Frictionally and structurally unemployed

    (b)

    Frictionally and cyclically unemployed

    (c)

    Structurally and cyclically unemployed

    (d)

    Frictionally structurally and cyclically unemployed

  6. According to Keynes, investment is a function of the MEC and _________

    (a)

    Demand

    (b)

    Supply

    (c)

    Income

    (d)

    Rate of interest

  7. Match the items in the List – I with items in List – II. Select the correct answer from the code given below:

    List - I List - II
    I. Y 1. C + IA + IP
    II. (β) 2. ΔI / ΔC
    III. K 3. 1/1 - MPC
    IV. MPS 4. ΔS / ΔY
    (a)
    I II III IV
    3 2 1 4
    (b)
    I II III IV
    2 4 1 3
    (c)
    I II III IV
    2 4 1 3
    (d)
    I II III IV
    2 3 4 1
  8. Scarcity induced inflation has happened in Venezula of the year ______

    (a)

    2017

    (b)

    2018

    (c)

    2016

    (d)

    2008

  9. Who will act as the banker to the Government of India?

    (a)

    SBI

    (b)

    NABARD

    (c)

    ICICI

    (d)

    RBI

  10. A Debit cardis a card allowing the holder to transfer money ______ from their bank account when making a purchase.

    (a)

    automatically

    (b)

    electronically

    (c)

    technically

    (d)

    none of the above

  11. Exchange rates are determined in

    (a)

    money market

    (b)

    foreign exchange market

    (c)

    stock market

    (d)

    capital market

  12. The Heckscher-Ohlin model rules out the classical model’s basis for trade by assuming that________ is (are) identical between countries

    (a)

    factor endowments

    (b)

    factor intensities

    (c)

    technology

    (d)

    opportunity costs

  13. ASEAN meetings are held once in every _______ years

    (a)

    2

    (b)

    3

    (c)

    4

    (d)

    5

  14. The achievements of the fund can be summed up as ‘Fund is like an International Reserve Bank.’ Who said this

    (a)

    Haien

    (b)

    Firedman

    (c)

    Arrow

    (d)

    Lancaster

  15. Fiscal federalism deals with .............

    (a)

    The division of governmental functions

    (b)

    Financial relations among levels of government

    (c)

    Proper allocation of Resources

    (d)

    All of the above

  16. The major contributor of Carbon monoxide is

    (a)

    Automobiles

    (b)

    Industrial process

    (c)

    Stationary fuel combustion

    (d)

    None of the above

  17. A noisy party that keeps neighbors awake is an example of a

    (a)

    negative production externality

    (b)

    positive production externality

    (c)

    negative consumption externality

    (d)

    positive consumption externality

  18. Sarvodaya Plan was advocated by__________

    (a)

    Mahatma Gandhi

    (b)

    J.P.Narayan

    (c)

    S.N Agarwal 

    (d)

    M.N. Roy

  19. According to the supply side of the vicious circle theory of development, a country is poor because

    (a)

    technology levels do not allow for self-sufficiency.

    (b)

    it was previously too poor to save and invest.

    (c)

    underemployment is too widespread

    (d)

    resource allocation is poor.

  20. Which is not a character of descriptive statistics?

    (a)

    It describes the population under study

    (b)

    It uses hypotheses, testing and predicting on the basis of the outcome

    (c)

    It presents the data in a meaningful way through charts, diagrams, graphs, other than describing in words

    (d)

    It gives the summary of data

  21. Part II

    Answer any 7 questions. Question no. 30 is compulsory.

    7 x 2 = 14
  22. Mention the any three Socialist Learning economies.

  23. Define GDP in broad terms

  24. Define average propensity to save (APS).

  25. “Super Multiplier” – Define.

  26. Define inflation.

  27. What is credit creation?

  28. Define Comparative Cost Advantage.

  29. Why was the SDR created?

  30. Define economic development

  31. Define Correlation.

  32. Part III

    Answer any 7 questions. Question no. 40 is compulsory.

    7 x 3 = 21
  33. Outline major demerits of capitalism.

  34. What are the difficulties in measuring National Income?

  35. State Cambridge equations of value of money.

  36. Compare the dissimilarities of Repo Rate and Reverse Repo Rate.

  37. What are the Determinants of Exchange Rates?

  38. Write a short note on TRIMs

  39. State any three characteristics of taxation.

  40. Explain the types of water pollution.

  41. Elucidate major causes of vicious circle of poverty with diagram

  42. State and explain the different kinds of Correlation

  43. Part IV

    Answer all the questions.

    7 x 5 = 35
    1. Discuss the features of Capitalist economy

    2. Discuss the Iimitations of National Income as an index of economic welfare.

    1. Explain non-economic factors determining development?

    2. Calculate the Karl Pearson Correlation Co-efficient for the following data

      Demand of Product X 23 27 28 29 30 31 33 35 36 39
      Sale of Product Y: 18 22 23 24 25 26 28 29 30 32
    1. Explain the importance of sustainable development and its goals.

    2. Describe different types of Planning.

    1. State and explain instruments of fiscal policy.

    2. Write a note on Indian Finance Commission.

    1. Discuss the Modern Theory of International Trade.

    2. What are the functions of the ASEAN?

    1. Explain other types of inflation (on the basis of inducement).

    2. Discuss Cheap and Dear Money policy.

    1. Describe the types of unemployment

    2. Illustrate the working of Multiplier

*****************************************

TN 12th Standard EM Economics free Online practice tests

Reviews & Comments about 12th Economics - Half Yearly Model Question Paper 2019

Write your Comment