Public Exam Model Question Paper Part-X 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. Quantity of a commodity accumulated at a point of time is termed as ____________..

    (a)

    production

    (b)

    stock

    (c)

    variable

    (d)

    flow

  2. With what kinds of topics does macroeconomics concern itself?

    (a)

    Economic activities of individual firms, households, and other organizations

    (b)

    Forces of supply and demand in a particular market

    (c)

    Consumer behavior and firms output decisions

    (d)

    Aggregate economic phenomena like the rate of unemployment and inflation

  3. Expenditure method is used to estimate national income in_______

    (a)

    Construction sector

    (b)

    Agricultural Sector

    (c)

    Service sector

    (d)

    Banking sector

  4. Output = Income = _________

    (a)

    Price

    (b)

    Expenditure

    (c)

    Income

    (d)

    None of these

  5. In Keynes theory of employment and income, ___________ is the basic cause of economic depression

    (a)

    Less production

    (b)

    More demand

    (c)

    Inelastic supply

    (d)

    Less aggregate demand in relation to productive capacity

  6. The Keynesian remedy for unemployment is to

    (a)

    decrease aggregate demand

    (b)

    reduce tax rates or lower interest rates

    (c)

    decrease government spending

    (d)

    decrease private consumption and investment

  7. Higher Interest rates likely to

    (a)

    Reduce investment

    (b)

    Decrease the cost of borrowing

    (c)

    Discourage saving

    (d)

    Increase borrowing and spending

  8. During inflation, who are the gainers?

    (a)

    Debtors

    (b)

    Creditors

    (c)

    Wage and salary earners

    (d)

    Government

  9. The Functions of commercial banks are broadly classified into

    (a)

    Primary Functions

    (b)

    Secondary functions

    (c)

    Other functions

    (d)

    a, b, and c

  10. Exchange rate for currencies is determined by supply a!ld demand under the-system of

    (a)

    Fixed exchange rate

    (b)

    Flexible exchange rate

    (c)

    Constant

    (d)

    Government regulated

  11. Trade is of _____ types

    (a)

    One

    (b)

    Two

    (c)

    Three

    (d)

    Four

  12. SDR stands for __________.

    (a)

    Special Drawing Resource

    (b)

    Special Drawing Rights

    (c)

    Special Daily Rights

    (d)

    Special Detail Rights

  13. The tax possesses the following characteristics

    (a)

    Compulsory

    (b)

    No quid pro quo

    (c)

    Failure to pay is offence

    (d)

    All the above

  14. ……………………. refers to the system of assigning the source of revenue to the Central as well as State Governments for the efficient discharge of their respective functions.

    (a)

    Public Economics

    (b)

    Federal Economics

    (c)

    Federal finance

    (d)

    Fiscal Economics

  15. Ecosystem is smallest unit of

    (a)

    Ionosphere

    (b)

    Lithosphere

    (c)

    Biosphere

    (d)

    Mesosphere

  16. Environmental Economics is an area of economics that studies the financial impact of ______________ issues and policies.

    (a)

    environmental

    (b)

    ecosystem

    (c)

    economy

    (d)

    ergonomics

  17. Sarvodaya Plan was advocated by__________

    (a)

    Mahatma Gandhi

    (b)

    J.P.Narayan

    (c)

    S.N Agarwal 

    (d)

    M.N. Roy

  18. What is the count of classification of countries as per World Development Report?

    (a)

    Three

    (b)

    One

    (c)

    Four

    (d)

    Nine

  19. Who stated that statistics as a science of estimates and probabilities.

    (a)

    Horace Secrist.

    (b)

    R.A Fisher

    (c)

    Ya-Lun-Chou

    (d)

    Boddington

  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 is Mixed Economy?

  23. Write the formula for calculating GNP

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

  25. Write a note on “wage-price flexibility” of classicals

  26. What are Ceteris paribus constant extraneous variables?

  27. Define Money

  28. Write few examples of NBFI.

  29. Point out any two ways in which IBRD lends to member countries.

  30. State the meaning of environment.

  31. What are the two main approaches to the concept of development?

  32. Part III

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

    7 x 3 = 21
  33. Distinguish between Capitalism and Globalism.

  34. Write a note on social account method of national income

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

  36. Assume the level of saving that would take place in an economy is - Rs.200 even when aggregate output is zero. Also assume that the marginal propensity to save is 0.1. Derive the algebraic expression for the saving function and the consumption function.

  37. Explain Effects on Production of Inflation.

  38. Write a brief note on flexible exchange rate.

  39. Write a short note on TRIMs

  40. State the meaning of e-waste.

  41. List the economic and non-economic determinants of economic development.

  42. Discuss the important statistical organizations (offices) in India.

  43. Part IV

    Answer all the questions.

    14 x 5 = 70
  44. Describe the types of unemployment

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

  46. Distinguish between Fisher’s and Cambridge Equation.

  47. Elucidate the functions of Commercial Banks

  48. Explain the types of Terms of Trade given by Viner.

  49. Explain the any two types of Exchange Rates

  50. Bring out the functions of World Bank.

  51. Explain the methods of debt redemption.

  52. List the Revenue of Union Sources

  53. Briefly explain the relationship between GDP growth and the quality of environment.

  54. Compare and contrast the “Planning Commission” and NITI Aayog”

  55. Estimate the coefficient of correlation with actualmean method for the following data.

    Age of cars in years 3 6 8 9 10 6
    Cost of Annual Maintains 1 7 4 6 8 4
    1. Compare the feature among Capitalism, Secularism and Mixedism

    2. Discuss the importance of social accounting in economic analysis

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