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Public Exam Model Question Paper Part-VI 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. Indicate the fundamental economic activities of an economy

    (a)

    Production and Distribution

    (b)

    Production and Exchange

    (c)

    Production and Consumption

    (d)

    Production and Marketing

  2. Find the odd one out

    (a)

    C + I

    (b)

    C + I + G + (X – M)

    (c)

    C + I + G

    (d)

    (X – M)

  3. Income method is measured by summing up of all forms of__________

    (a)

    Revenue

    (b)

    Taxes

    (c)

    expenditure

    (d)

    Income

  4. GDP Deflator is also called as:

    (a)

    Implicit Cost Deflator

    (b)

    GDP at Factor Cost

    (c)

    Implicit Wage Deflator

    (d)

    Implicit Price Deflator

  5. Keynes theory emphasized on________ equilibrium

    (a)

    Very short run

    (b)

    Short run

    (c)

    Very long run

    (d)

    Long run

  6. _______________ refers to persuasion.

    (a)

    Growth rate

    (b)

    Minimization

    (c)

    Optimization

    (d)

    Moral Suasion

  7. Assertion (A): Consumption is influenced by demonstration effect.
    The consumption standards of low income groups are influenced by the consumption standards of high income groups.

    (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.

  8. Inflation means

    (a)

    Prices are rising

    (b)

    Prices are falling

    (c)

    Value of money is increasing

    (d)

    Prices are remaining the same

  9. Repo Rate means.

    (a)

    Rate at which the Commercial Banks are willing to lend to RBI

    (b)

    Rate at which the RBI is willing to lend to commercial banks

    (c)

    Exchange rate of the foreign bank

    (d)

    Growth rate of the economy

  10. Which of the following factors influence trade?

    (a)

    The stage of development of a product

    (b)

    The relative price of factors of productions.

    (c)

    Government.

    (d)

    All of the above.

  11. There are _______ major exchange rate system

    (a)

    two

    (b)

    three

    (c)

    four

    (d)

    five

  12. Assertion (A): IMF enforces the system of determination of par values of the currencies of the member countries
    Reason (R): According to the Articles of Agreement of the IMF, every member nation should declare the par value of its currency in terms of gold or US dollars.

    (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.

  13. The modern state is

    (a)

    Laissez-faire state

    (b)

    Aristocratic state

    (c)

    Welfare state

    (d)

    Police state

  14. Which is not a type of Local Bodies?

    (a)

    Village Panchayats

    (b)

    District Boards or ZilaParishads

    (c)

    Municipal Wards

    (d)

    Municipal Corporations

  15. Primary cause of Soil pollution is ________

    (a)

    Pest control measures

    (b)

    Land reclamation

    (c)

    Agricultural runoff

    (d)

    Chemical fertilizer

  16. All of the following are ways to cope with negative externalities except

    (a)

    public choice

    (b)

    obligatory controls

    (c)

    pollution taxes

    (d)

    creating new property forms

  17. Which is not the feature of economic growth?

    (a)

    Concerned with developed nations

    (b)

    Gradual change

    (c)

    Concerned with quantitative aspect

    (d)

    Wider concept

  18. The missing part of the cycle

    (a)

    Low income

    (b)

    Low tax

    (c)

    Low productivity

    (d)

    Low investment

  19. Econometrics is the amalgamation of

    (a)

    3 subjects

    (b)

    4 subjects

    (c)

    2 subjects

    (d)

    5 subjects

  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. Why Keynes is considered as the father of modern macro economics?

  23. What is the difference between NNP and NDP?

  24. Give short note on frictional unemployment

  25. What are the assumptions of Say's Law of Market?

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

  27. What is plastic money? Give example.

  28. What are Demand Deposits?

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

  30. What are environmental goods? Give examples

  31. Draw the The Vicious Circle of Poverty

  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. Write any five differences between classism and Keynesianism.

  36. State Duesenberry hypothesis.

  37. Explain Effects on Production of Inflation.

  38. Describe the subject matter of International Economics.

  39. Explain the achievements of WTO.

  40. State the meaning of e-waste.

  41. Distinguish between Economic Development and Growth. (Any Three Points)

  42. Mention the uses of Regression Analysis

  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. Describe the types of unemployment

    4. Illustrate the working of Multiplier

    5. Compare and contrast inflation and deflation.

    6. Elucidate the functions of Commercial Banks

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

    8. Explain the any two types of Exchange Rates

    9. Bring out the functions of World Bank.

    10. Explain the principles of Federal Finance.

    11. List the Revenue of Union Sources

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

    13. Explain non-economic factors determining development?

    14. Find the Pearsonian correlation coefficient between sales (in thousand units) and expenses (in thousand rupees) of the following 10 firms:

      Firm 1 2 3 4 5 6 7 8 9 10
      Sales: 50 50 55 60 65 65 65 60 60 50
      Expenses: 11 13 14 16 16 15 15 14 13 13

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