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Public Exam Model Question Paper Part-V 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. A steady increase in general price level is termed as_____________.

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  2. In addition to household and firms, inclusion of the government sector make this model a ________ model.

    (a)

    Single sector model

    (b)

    Two sector model

    (c)

    Three sector model

    (d)

    Four sector model

  3. The largest proportion of national income comes from___________

    (a)

    Private sector

    (b)

    Local sector

    (c)

    Public sector

    (d)

    None of the above

  4. (i) Firms, (ii) Households, (iii) Government, (iv) Rest of the world and
    (v) Capital sector. are diffe rent elements of ………………?

    (a)

    social accounting method

    (b)

    private accounting method

    (c)

    public accounting method

    (d)

    social accounting model

  5. Every able bodied person who is willing to work at the prevailing wage rate is employed called as ___________

    (a)

    Full employment

    (b)

    Under employment

    (c)

    Unemployment

    (d)

    Employment opportunity

  6. Capital stock and technological knowledge are given in the ______________

    (a)

    medium run

    (b)

    long run

    (c)

    short run

    (d)

    none of the above

  7. Theory of ____________ states the effect of investment upon the level of income.

    (a)

    Multiplier

    (b)

    J.B. Say's Law of market theory

    (c)

    General theory

    (d)

    Classical theory of employment

  8. ___________inflation occurs when general prices of commodities increases due to increase in production costs such as wages and raw materials.

    (a)

    Cost-push

    (b)

    demand pull

    (c)

    running

    (d)

    galloping

  9. Central bank is_____ authority of any country.

    (a)

    Monetary

    (b)

    Fiscal

    (c)

    Wage

    (d)

    National Income

  10. Tourism and travel are classified in which of balance of payments accounts?

    (a)

    merchandise trade account

    (b)

    services account

    (c)

    unilateral transfers account

    (d)

    capital account

  11. International trade forces domestic firms to become more competitive in terms of

    (a)

    The introduction of new products

    (b)

    Product design and quality

    (c)

    Product price

    (d)

    All of the above

  12. Expand the term ECM

    (a)

    European Common Market

    (b)

    Equal Common Market

    (c)

    East Asian Common Market

    (d)

    EnglandCustom Market

  13. Methods of repayment of public debt is

    (a)

    Conversion

    (b)

    Sinking fund

    (c)

    Funded debt

    (d)

    All these

  14. _________ cosists of capital receipts and capital expenditure.

    (a)

    Budge

    (b)

    Capital budget

    (c)

    Revenue

    (d)

    Supplementary budget

  15. The process of nutrient enrichment is termed as

    (a)

    Eutrophication

    (b)

    Limiting nutrients

    (c)

    Enrichment

    (d)

    Schistosomiasis

  16. 1 EcoSystem i. The presence of harmful or objectionable material to damage water quality.
    2 Pollution ii. The increase in temperature of the Earth’s surface, due to greenhouse gases.
    3 Water Pollution iii. Residual discharges of contaminants into the natural environment to the air or water
    4 Global warming iv. The interacting system of a biological community and it's nonliving environmental surroundings
    (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)

  17. NITI Aayog is formed through_______

    (a)

    Presidential Ordiance

    (b)

    Allocation of business rules by President of India

    (c)

    Cabinet resolution

    (d)

    None of the above

  18. Trace the author of following statement “Economic Planning in the widest sense is the deliberate direction by persons incharge of large resources of economic activity towards chosen ends”

    (a)

    Dalton

    (b)

    Arthur Lewis

    (c)

    Arthur Schumpeter

    (d)

    None of the above

  19. The data collected by questionnaires are_______

    (a)

    Primary data.

    (b)

    Secondary data

    (c)

    Published data.

    (d)

    Grouped data

  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. Write down the countries that have capitalistic, economy.

  23. Define GDP deflator

  24. What is the main feature of rural unemployment ?

  25. What is Say's law of market?

  26. What is the Meaning of Marginal Efficiency of Capital (MEC)?

  27. What is gold standard?

  28. Define a financial intermediary.

  29. Write the meaning of Special Drawing rights.

  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. Indicate the demerits of socialism

  34. What is Per capita income?

  35. Explain the following in short
    (i) Seasonal unemployment
    (ii) Frictional unemployment
    (iii) Educated unemployment

  36. Explain the uses of multiplier

  37. Draw the diagram of Fisher’s Quantity theory of money.

  38. Describe the subject matter of International Economics.

  39. Write a short note on TRIMs

  40. What is land pollution? Mention the causes of land pollution.

  41. What are the six basic characteristics of under developed economy?

  42. What are the functions of Statistics?

  43. Part IV

    Answer all the questions.

    14 x 5 = 70
    1. Compare the features of capitalism and socialism

    2. What are the difficulties involved in the measurement of national income?

    3. Describe the types of unemployment

    4. What are the differences between MEC and MEI.

    5. Explain Measures to Control Inflation.

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

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

    8. Explain Adam Smith’s Theory of Absolute Cost Advantage

    9. Explain the objectives of IMF.

    10. What are the reasons for the recent growth in public expenditure?

    11. Distinguish between Balanced and Unbalanced Budget

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

    13. Explain non-economic factors determining development?

    14. Distinguish between correlation and regression.

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