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Public Exam Model Question Paper Part-VII 2019 - 2020

12th Standard EM

    Reg.No. :
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Economics

Time : 02:45:00 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. Indicate the contribution of J M Keynes to economics

    (a)

    Wealth of Nations

    (b)

    General Theory

    (c)

    Capital

    (d)

    Public Finance

  2. Identify which is not a subject matters covered in Macro Economics

    (a)

    employment

    (b)

    national income

    (c)

    inflation

    (d)

    Profit maximization

  3. Which is the largest figure?

    (a)

    Disposable income

    (b)

    Personal Income

    (c)

    NNP

    (d)

    GNP

  4. Great care is required to calculate ____________.

    (a)

    Capital Gains

    (b)

    Social Accounting

    (c)

    Double Counting

    (d)

    Statistical Problems

  5. Say’s law stressed the operation of________ in the economy

    (a)

    Induced price mechanism

    (b)

    Automatic price mechanism

    (c)

    Induced demand

    (d)

    Induced investment

  6. Which of the following is not an assumption of classical theory?

    (a)

    Price flexibility

    (b)

    Unemployment

    (c)

    Say’s law

    (d)

    Neutrality of money

  7. Assertion (A): The progressive tax system increases the propensity to consume of the people by altering the income distribution in favour of poor.
    Reason (R): When government reduces the tax the disposable income rises and the propensity to consume of community increases.

    (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.

  8. Inflation means

    (a)

    Prices are rising

    (b)

    Prices are falling

    (c)

    Value of money is increasing

    (d)

    Prices are remaining the same

  9. Lender of the last resort is one of the functions of.

    (a)

    Central Bank

    (b)

    Commercial banks

    (c)

    Land Development Banks

    (d)

    Co-operative banks

  10. Components of balance of payments of a country includes

    (a)

    Current account

    (b)

    Official account

    (c)

    Capital account

    (d)

    All of above

  11. According to the Heckscher-Ohlin model, the source of comparative advantage is a country’s:

    (a)

    technology

    (b)

    advertising

    (c)

    factor endowments

    (d)

    both (a) and (c)

  12. Jakarta is the head quarters of _________.

    (a)

    BRICS

    (b)

    WTO

    (c)

    SAARC

    (d)

    ASEAN

  13. Which of the following is a direct tax?

    (a)

    Excise duty

    (b)

    Income tax

    (c)

    Customs duty

    (d)

    Service tax

  14. During the past 67 years of planning, the population of India has increased from 36.1 crore in…………, to 121 crore in………..?

    (a)

    1951 and 2011

    (b)

    1981 and 2011

    (c)

    1991 and 2018

    (d)

    1971 and 2001

  15. Global warming also refers to as

    (a)

    Ecological change

    (b)

    Climate Change

    (c)

    Atmosphere change

    (d)

    None of the above

  16. 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

  17. Which of the following country adopts indicative planning?

    (a)

    France

    (b)

    Germany

    (c)

    Italy

    (d)

    Russia

  18. _____is the period of sixth five year plan during Ianata party in centre.

    (a)

    1975-80

    (b)

    1980-85

    (c)

    1985-90

    (d)

    1978-83

  19. If both variables X and Y increase or decrease simultaneously, then the coefficient of correlation will be:

    (a)

    Positive

    (b)

    Negative

    (c)

    Zero

    (d)

    One

  20. Expand the term MOSPI.

    (a)

    The Ministry of Statistics and Programme Implementation

    (b)

    The Ministry of Statistics and Probability Implementation

    (c)

    The Ministry of Statistical and Programme Improvements

    (d)

    None of the above

  21. Part II

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

    7 x 2 = 14
  22. Why Keynes is considered as the father of modern macro economics?

  23. What is the difference between NNP and NDP?

  24. Give reasons for labour retrenchment at present situation

  25. What is Aggregate supply?

  26. Mention any two uses of multiplier concept.

  27. What is Stagflation?

  28. Define a financial intermediary.

  29. What is Free trade area?

  30. What are the remedial measures to control noise pollution?

  31. Write a note on the supply side vicious circle of poverty.

  32. Part III

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

    7 x 3 = 21
  33. Describe the different types of economic systems.

  34. What is Per capita income?

  35. What do you mean by aggregate demand ? Mention its components

  36. State Duesenberry hypothesis.

  37. Explain the primary function of money:

  38. Distinguish between Balance of Trade and Balance of Payments.

  39. Draw the diagram for World Bank group.

  40. What are the causes of water pollution?

  41. Write a short note on former Indian Planning Commission.

  42. Specify the objectives of econometrics.

  43. Part IV

    Answer all the questions.

    14 x 5 = 70
    1. Compare the feature among Capitalism, Secularism and Mixedism

    2. Explain the importance of national income

    3. Critically explain Say’s law of market

    4. Explain Keynes psychological law of consumption f.unction with diagram.

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

    6. Explain the role of Commercial Banks in economic development.

    7. Explain the relationship between Foreign Direct Investment and Economic development.

    8. Draw the flow chart for correction of Balance Payment Disequilibrium

    9. Discuss the role of  WTO in India's socio economic development.

    10. Explain the methods of debt redemption.

    11. What are the taxes levied and collected by the union but assigned to the states?

    12. Explain the importance of sustainable development and its goals.

    13. Draw the 7 pillars of NITI Aayog

    14. Compare and contrast primary and secondary data.

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