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Public Exam Model Question Paper Part-IV 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. An economic system where the economic activities of a nation are done both by the private and public together is termed as__________

    (a)

    Capitalistic Economy

    (b)

    Socialistic Economy

    (c)

    Globalisic Economy

    (d)

    Mixed Economy

  2. Inflation refers to steady ________ in general price level.

    (a)

    decrease

    (b)

    increase

    (c)

    constant

    (d)

    flat

  3. Per capita income is obtained by dividing the National income by__________

    (a)

    Production

    (b)

    Population of a country

    (c)

    Expenditure

    (d)

    GNP

  4. GDP= _________.

    (a)

    GNP + Depreciation

    (b)

    GNP - Net income earned from abroad

    (c)

    GNP - Depreciation

    (d)

    NNP - Depreciation

  5. J.B. Say is a ___________

    (a)

    Neo Classical Economist

    (b)

    Classical Economist

    (c)

    Modern Economist

    (d)

    New Economist

  6. 'Full employmentas the absence of involuntary unemployment' was said by _________________

    (a)

    J.B. Say

    (b)

    Ricardo

    (c)

    J.M. Keynes.

    (d)

    Adamsmith

  7. The value of multiplier itself depends on ______ or marginal propensity to consume.

    (a)

    savings function

    (b)

    investment function

    (c)

    consumption function

    (d)

    interest function

  8. “Money can be anything that is generally acceptable as a means of exchange and that thesame time acts as a measure and a store of value”, This definition was given by

    (a)

    Crowther

    (b)

    A.C.Pigou

    (c)

    F.A.Walker

    (d)

    Francis Bacon

  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. In the case of BOT,

    (a)

    Transactions of goods are recorded.

    (b)

    Transactions of both goods and services are recorded.

    (c)

    Both capital and financial accounts are included.

    (d)

    All of these

  11. The modern theory of international trade explains the causes for …………….?

    (a)

    comparative cost difference

    (b)

    absolute cost difference

    (c)

    comparative cost similarities

    (d)

    absolute cost similarities

  12. Which of the following institutions is not part of the World Bank community?

    (a)

    IBRD

    (b)

    WTO

    (c)

    IDA

    (d)

    IFC

  13. The difference between total expenditure and total receipts including loans and other liabilities is called

    (a)

    Fiscal deficit

    (b)

    Budget deficit

    (c)

    Primary deficit

    (d)

    Revenue deficit

  14. A ________ is a penalty imposed on an individual for violation of law.

    (a)

    Grants

    (b)

    Aids

    (c)

    Fine

    (d)

    fees

  15. Environmental goods are ____________

    (a)

    Market goods

    (b)

    Non-market goods

    (c)

    Both

    (d)

    None ofthe above

  16. The natural pollution causes both aquatic and

    (a)

    Cancer

    (b)

    Human illness

    (c)

    Children

    (d)

    Asthm(a)

  17. Which of the following country adopts indicative planning?

    (a)

    France

    (b)

    Germany

    (c)

    Italy

    (d)

    Russia

  18. Who said, “Planning is more necessary in backward countries to devise ways and means and to make concerted efforts to raise national income”

    (a)

    1 and 2

    (b)

    2 and 3

    (c)

    3 and 4

    (d)

    1 and 4

  19. If Y = 2 - O.2X, then the value of Y intercept is equal to

    (a)

    -0.2

    (b)

    2

    (c)

    0.2X

    (d)

    All of the above

  20. If the correlation coefficient is a positive value, then the slope of the regression line

    (a)

    must also be positive

    (b)

    can be either negative or positive

    (c)

    can be zero

    (d)

    can not be zero

  21. Part II

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

    7 x 2 = 14
  22. What is Economic Policies?

  23. Write the formula for calculating GNP

  24. Define full employment.

  25. List various types of unemployment.

  26. What do you mean by investment?

  27. What is Stagflation?

  28. Define a financial intermediary.

  29. Mention any two objectives of ASEAN.

  30. Define Global warming.

  31. What is financial planning?

  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 five types of final goods and services that GNP includes?

  35. Explain about aggregate supply with the help of diagram.

  36. Explain any three short fun factors of MEC.

  37. Explain the primary function of money:

  38. State the objectives of Foreign Direct Investment.

  39. Draw the diagram for World Bank group.

  40. What are the causes of water pollution?

  41. What are essential features of an economic plan

  42. Find the Standard Deviation of the following data:14,22,9,15.20,17,12.11

  43. Part IV

    Answer all the questions.

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

    2. Explain the importance of national income

    3. Narrate the equilibrium between ADF and ASF with diagram

    4. Briefly explain the subjective and objective factors of consumption function?

    5. Explain the supply of Money and determinants of money supply in India.

    6. Elucidate the functions of Commercial Banks

    7. Discuss the various types of disequilibrium in the balance of payments.

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

    9. Bring out the functions of World Bank.

    10. State and explain instruments of fiscal policy.

    11. Explain the classification of public expenditure.

    12. Explain the concepts of externality and its classification

    13. Compare and contrast economic growth and economic development.

    14. Calculate the standard deviation from the following data by Actual Mean Method: 25, 15, 23, 42, 27, 25, 23, 25, and 20.

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