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Public Exam Model Question Paper Part-IX 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. The branches of the subject Economics is

    (a)

    Wealth and welfare

    (b)

    production and consumption

    (c)

    Demand and supply

    (d)

    micro and macro

  2. Pick basic composition of three sector of model of economy.

    (a)

    Y = C + I + G + (X – M)

    (b)

    Y = C + I + G

    (c)

    Y = C + S

    (d)

    Y = C + I

  3. Net National product at factor cost is also known as

    (a)

    National Income

    (b)

    Domestic Income

    (c)

    Per capita Income

    (d)

    Salary

  4. Assertion (A) :Double counting is to be avoided under value added method.
    Reason (R) :Any commodity which is either raw material or intermediate good for the final production should not be included.

    (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.

  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. Effective demand equals to ____________

    (a)

    National income

    (b)

    Gross income

    (c)

    Total income

    (d)

    Net income

  7. Match the correct codes

    1 The motive of precaution i The desire to enjoy interest and appreciation
    2 The motive of foresight ii The desire to enjoy for improving standard of living.
    3 The motive of calculation iii The desire to provide for anticipated future needs.
    Eg. Old age
    4 The motive of improvement iv To build up a reserve against unforeseen contingencies.
    Eg. Accidents, sickness
    (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)

  8. __________inflation results in a serious depreciation of the value of money.

    (a)

    Creeping

    (b)

    Walking

    (c)

    running

    (d)

    Hyper

  9. ARDC started functioning from

    (a)

    June 3, 1963

    (b)

    July 3, 1963

    (c)

    June I, 1963

    (d)

    July I, 1963

  10. Benefits ofFDI include, theoretically

    (a)

    Boost in Economic Growth

    (b)

    Increase in the import and export of goods and services

    (c)

    Increased employment and skill levels

    (d)

    All of these

  11. Find the incorrect one with respect to Indian rupee devaluation

    (a)

    On 29th September, 1949

    (b)

    On 6th June, 1966

    (c)

    On 1st July, 1991

    (d)

    On 9st August, 1990

  12. The Bretton Woods conference proposal IMF, World Bank and International Trade Organisation (ITO) in ________.

    (a)

    1944

    (b)

    1934

    (c)

    1964

    (d)

    1974

  13. The difference between revenue expenditure and revenue receipts is

    (a)

    Revenue deficit

    (b)

    Fiscal deficit

    (c)

    Budget deficit

    (d)

    Primary deficit

  14. Pick out the item which is not a part of non-tax revenue,

    (a)

    Interest Receipts

    (b)

    Dividends

    (c)

    Customs

    (d)

    Profits

  15. Sustainable Development Goals and targets are to be achieved by ____________

    (a)

    2020

    (b)

    2025

    (c)

    2030

    (d)

    2050

  16. _______________ is the example of positive production externality.

    (a)

    Bee-hive pollination

    (b)

    Beetle pollination

    (c)

    Birds

    (d)

    All the above

  17. Which of the following plan has focused on the agriculture and rural economy

    (a)

    People's Plan

    (b)

    Bombay Plan

    (c)

    Gandhian Plan

    (d)

    Vishveshwarya Plan

  18. Match list-I with List-II correctly and select your answer from the codes given below:

    List I List II
    a) Gandhian Plan 1) ArdesirDalal
    b) People’s plan 2) Mannarayana
    c) Bombay Plan 3) M. N. Roy
    d) Sarvodaya Plan 4) Jay Prakash Narayan
    (a)

    1 2 3 4

    (b)

    2 3 1 4

    (c)

    2 3 4 1

    (d)

    1 2 4 3

  19. The term regression was used by:

    (a)

    Newton

    (b)

    Pearson

    (c)

    Spearman

    (d)

    Galton

  20. Find the equation of multiple correlation.

    (a)

    Qd= f (P, Pc, Ps, t, y)

    (b)

    X= a – bx

    (c)

    Y= a + bx

    (d)

    Y= a – bx

  21. Part II

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

    7 x 2 = 14
  22. Draw the circular flow of a three sector economy.

  23. Write the formula for calculating GNP

  24. What is effective demand ?

  25. Comment : “Self-Adjustment not Possible”

  26. When income increases, consumption expenditure also increases but by a smaller amount. Justify.

  27. Define Money

  28. Write a note on “Providing Locker Facilities”of banks.

  29. What is Free trade area?

  30. What are environmental goods? Give examples

  31. How does World Development Report classifies countries?

  32. Part III

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

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

  34. What are the difficulties in measuring National Income?

  35. Write short note on the implications of Say’s law.

  36. Explain any three leakages of multiplier.

  37. What are the Contingent Functions?

  38. Compare the Classical Theory of international trade with Modern Theory of International trade.

  39. Explain the achievements of WTO.

  40. Write a note on
    a) Climate change and
    b) Acid rain

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

  42. Specify the objectives of econometrics.

  43. Part IV

    Answer all the questions.

    14 x 5 = 70
  44. Illustrate the functioning of an economy based on its activities

  45. Discuss the various methods of estimating the national income of a country

  46. Critically explain Say’s law of market

  47. What are the differences between MEC and MEI.

  48. Solve and discuss the following using Marshall “Cash Balance Approach”. Suppose money supply in cash and bank deposits (M) = Rs. 1,000. (ii) The total annual national income (R) = 10,000 units. (iii) The goods (income) which the community wants to hold in money (K), say one-fifth of Y = 2,000 units.

  49. What are the objectives of Monetary Policy? Explain.

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

  51. Explain the determinants of Equilibrium Exchange Rate

  52. Explain the objectives of IMF.

  53. Describe the various types of deficit in budget.

  54. What are the advantages of GST?

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

  56. Explain non-economic factors determining development?

  57. List the degrees of correlation corresponding to variousvalues of r.

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