Public Exam Model Question Paper Part-VIII 2019 - 2020

12th Standard EM

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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. Identify The Father of Socialism

    (a)

    J M Keynes

    (b)

    Karl Marx

    (c)

    Adam Smith

    (d)

    Samuelson

  2. Assertion (A) :Each individual and organization produce only those goods which ensure high profit.
    Reason (R) :Profit is the driving force behind all economic activities in a capitalistic economy

    (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 is the largest figure?

    (a)

    Disposable income

    (b)

    Personal Income

    (c)

    NNP

    (d)

    GNP

  4. Match the correct codes

    1 GNP i FC + Indirect Taxes - Subsidies
    2 X-M ii MP - Indirect Taxes + Subsidies
    3 MP iii C + I + G + (X-M)
    4 FC iv Net exports
    (a)

    (1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)

    (b)

    (1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)

    (c)

    (1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

    (d)

    (1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

  5. _________ Flexibility brings equality between saving and investment

    (a)

    Demand

    (b)

    Supply

    (c)

    Capital

    (d)

    Interest

  6. The entrepreneur would be encouraged to employ ________________

    (a)

    more labour

    (b)

    more income

    (c)

    more product

    (d)

    more capital

  7. When MPC = 0.5, the value of multiplier is

    (a)

    5

    (b)

    0.5

    (c)

    2

    (d)

    4

  8. Stagflation combines the rate of inflation with

    (a)

    Stagnation

    (b)

    employment

    (c)

    output

    (d)

    price

  9. EXIM bank was established in.

    (a)

    June 1982

    (b)

    April 1982

    (c)

    May 1982

    (d)

    March 1982

  10. Cyclical disequilibrium in BOP occurs because of

    (a)

    Different paths of business cycle.

    (b)

    The income elasticity of demand or' price elasticity of demand is different.

    (c)

    long-run changes in an economy

    (d)

    Both (a) and (b)

  11. The Heckscher-Ohlin theory explains comparative advantage as the result of differences incountries’:

    (a)

    Economies of large-scale production.

    (b)

    Relative abundance of various resources

    (c)

    Relative costs of labor.

    (d)

    Research and development expenditures.

  12. Suppose that tomatoes from India face a 20 percent tariff in the China and a 25 percenttariff in Pakistan. If the China and Pakistan maintain free trade between each other, the these two countries belong to a

    (a)

    free-trade area

    (b)

    customs union

    (c)

    common market

    (d)

    monetary union

  13. Finance Commission determines

    (a)

    The finances of Government ofIndia

    (b)

    The resources transfer to the states

    (c)

    The resources transfer to the various departments

    (d)

    None of the above

  14. Which of the following is the most comprehensive measure of budgetary imbalances?

    (a)

    Fiscal Deficit

    (b)

    Revenue Deficit

    (c)

    Primary Deficit

    (d)

    All of the above

  15. Which of the following is main cause for deforestation?

    (a)

    Timber harvesting industry

    (b)

    Natural afforestation

    (c)

    Soil stabilization

    (d)

    Climate stabilization

  16. Find the odd one in the context Solid waste

    (a)

    plastic containers

    (b)

    emission

    (c)

    bottles

    (d)

    used cars

  17. Sarvodaya Plan was advocated by__________

    (a)

    Mahatma Gandhi

    (b)

    J.P.Narayan

    (c)

    S.N Agarwal 

    (d)

    M.N. Roy

  18. Which is not the characteristics of UDCs?

    (a)

    Low per capita

    (b)

    Wide in equality

    (c)

    High rate of unemployment

    (d)

    Price mechanism

  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. The correlation would be __________ if the amount of change in one variable does not bear a constant ratio to the amount of change in the other variables.

    (a)

    linear

    (b)

    scatter

    (c)

    non-linear

    (d)

    downward always

  21. Part II

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

    7 x 2 = 14
  22. What are the major types of economic systems

  23. What do you mean by the term ‘Personal Income’?

  24. List out the assumptions of Say’s law.

  25. What are the two factors depend on MEC?

  26. What is Definition of “The accelerator coefficient”?

  27. Define Money

  28. What are Time Deposits?

  29. Mention any two objectives of ASEAN.

  30. Mention the countries where per capita carbondioxide emission is the highest in the world.

  31. Write a brief note on “Traditional Approach” about economic development

  32. Part III

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

    7 x 3 = 21
  33. Outline the major merits of capitalism.

  34. What are the National Income identities?

  35. According to classical theory of employment, how wage reduction solve the problem of unemployment diagramatically explain.

  36. Draw the diagram of consumption function.

  37. Explain the primary function of money:

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

  39. Write a functions of WTO.

  40. Brief the linkage between economy and environment.

  41. Classify the various countries on the basis of gross national.income (GNI) per capita?

  42. What are the functions of Statistics?

  43. Part IV

    Answer all the questions.

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

    2. Discuss the importance of social accounting in economic analysis

    3. Explain the differences between classical theory and Keynes theory.

    4. What are the differences between MEC and MEI.

    5. Distinguish between Fisher’s and Cambridge Equation.

    6. Elucidate the functions of Commercial Banks

    7. Discuss the differences between Internal Trade and International Trade.

    8. Elaborate various Gains from International Trade?

    9. Explain the objectives of IMF.

    10. Explain the scope of public finance.

    11. Distinguish between Balanced and Unbalanced Budget

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

    13. Discuss the Non- Economic Factors economic development.

    14. Find out graphically, if there is any correlation between price yield per plot (qtls); denoted by
      Y and quantity of fertilizer used (kg); denote by X.

      Plot No: 1 2 3 4 5 6 7 8 9 10
      Y: 3.5 4.3 5.3 5.8 6.4 7.3 7.2 7.5 7.8 8.3
      X: 6 8 9 12 10 15 17 20 18 24

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