Economics (030)

(Issued by CBSE in November 20L41
Economics (030)
Class XII (2014-L5)
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5.
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1. The total cost at 5 units
of output is ( 30. The fixed cost is ( 5. The average variable cost at 5 units of
1
output is :
(d)<1
(c)
(b) <5
(a) (25
of milk in the country?
demand
the
to
increase
undertake
, What policy initiatives can the government
1
Mention any one.
1
utility?
total
represent
3. Which of the shaded area in the diagrams below
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lu
Price
Price
Price
Mu
Mu
Mu
p
he
U2
F)
u
2
!
I1
il, 33"13,,"0
(a)
M' Units
6U,iirr"o
(b)
Mu Units
6onirr"o
(c)
M'
Units
doriirmeo
(d)
widespread
4. Using a diagram explain what will happen to the PPC of Bihar if the river Kosi causes
3
floods?
3
5. State the central problems of an economy.
3
6. State whether the following statements are true or false' ]ustify your answer.
(a) Average product rises only where marginal product rises'
(b) Total cost rises only whenmarginal cost rises.
3
Or
1
I
I
i
Explain the effects of a 'price floor'.
fxpUin the implications of freedom of entry and exit of firms under perfect competition.
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9.
(Issued. in Nooember,
Z0l4)
il*ri:rt#gg"i';H"H*iir"
vr'L @rq dL rr
agree? Explain with
fl help of an example'
10. Explain
Exnlai- r^,L',
^- ,-- ,..,1"
why an
indiffe;;;;""#f::_1*
same nme 'norma| good
for another consumer. Do
you
4
to rhe origin?
will happen itt'/I'tJx/Pxis
condition;A,iili#;tii
greater than MU,
j:tfi.,.?,,,j,"::*,hanwr,,p,?
1"*TiI#::H:lHt"T
i,;*l't
ffijl1#i1:fiffi:d:;rffi
and
,rirrsr;l***.
in
supprv
r'a "r,T,li:lii largrnal-cost
:flT"Hffi
13. ffi 'ff iltr.11,:.llll";:*::ii.[-#:1ffi
"ir.,gu
ffi
i:,EI+il:y,lTx1"#,t2014:
ry;;"ilwft ^ar'.z+i"^{{i'niff"ff
i;tr:;:j,
;rX#:::Xno*,,*i[*ii*iiii,XZiiff
a diagram *a
' Use
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11.
the
12. !1ntui"
what is-meant uy
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r:'::::r;;rr#"r#;K
""or,omi"
5
6
6
Or
was printed in the Economic
j#:y:i^y:-,::.T;isprintedintheEconomicrimes:
in southern
;:ifii;Ti
Times :
*;;rrf;'"rrii'i'f
S,|J,f;i:f
|:-:uhrt!t
breakfast as banana plantations
destroyed
and pricr-ij'ipptrc and
in Kerala haoe been
in
srat)es ,,-, .,!\*jf^!lr
if*y:!",:!yrice,y,ppii,|"|';:;;:,:;;,";{;r:;#.
H:";,X[Tffi ffi::*'-i;",ffi;';
the market of o.rogur.
"#i;
"ff;impact
or rhe rise
It; ioT*"1.consuires
ili#ilffiI#A:y#if,?"f:;ifilU#Xnditions
only two
*
f ,".
"
* *0., *d
grapes on
thatneed to be satisried
ror the conslrner
curve analysis.
b u*;;;; peopr
e:
ff:o t" Iy*r 1kgj'*"t::
of pJtatoes.
Rani : Whatwilll
sita : r n,- *..^ J^"lg*e in exchange?
jl,:*,1;*;rorthepotaroes
nll^',':llE
q
{',
ffi ..;.i;H,rffi"*1i:m
l#ii::lt"#"Tf,*x*$#}iffi ffi
,ffi
(b) Absence of common
ooandRaniintheirexchangeprocess?
units
-- of
-^ value.
' *'qc'
Lack of store of value.
Lack of standard oiJ"f"rr"a
_(d)
payrnent.
' -- -- 1--'7
,r.rlr.
16. what is repo rate?
17. Which of the following
is a characteristic of a
good?
(a) htangible.
(c)
i
J
i
i
I
#;:x*tion
3 EffiHr"
18' rhe
*l".,H::H:*;h;"
'
must
har#,1'ffi?ff"H:i
revenue deficit. rhis
sets financed by:
B. Dsinvestrnent
C. Tax revenue
D. Indirect taxes
(a) A and D
(b) CandD
(c) AandB
1e' which of the following
__--v-Arvrrr rD
e staremenr
is rrur
not rrue
rrlle []*t"Xi$"?"r,,
ror flscal deficit?
A fiscal deficit :
(a) represents the borrowing
of the government.
(b) is the differe
f:x"i"1try"trffiU1#jr1ffi#
,^ .fi
20.
What is the role of a Central
(a) Fixed exchange nr"t
t.t M*rg"Jii""*g
[::i ;:::i#:
* ,fr"te rorowrnS,:Pi:ft,
following exchange rate?
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l
j
{
i
I
In an economy the autono_nrrc
"ffi
i-_,^^r-
,
G) FloatingExchange
"' #fr;i'oTff:iHH"":ffi:H"Tffiff##i,13,nX*";:nsumprionisC=80
I
1
+0.4y.rstheeconomy
or
i";H?":i:i*:'#Hx;ilff :fl f; :,,f ,:lffii*""ffiTff
3
l,:r.,::H'ff :;:?ffi,"fi
,,?;?;il1:
In an economy planned saving is greater than planned investment. Explain how the economy adtev;
equilibrium level of national income.
Only one product X is produced in the country. lts outpyt dgh.g t\ year2}l?and 2013 was 100 units
( 55 p-er unit
*a ffO rrrrit. r"rpu.tiiely. The rnarket price of the product duringthe Le:t*Yu" < 50^3d
2012 as
2013
using
in
year
r"rp""U""fy. Caliulate tlie percentage cirange in reul GOp and nominal GDP
4
the base year.
account'
on
current
What is meant by 'balance of payment' account? Distinguish between the 'balance
ufrrr." of tiade' u..orrri. hn which account wouldiemittances from family members from abroad
4
be
4
that are used to calculate national
State the various components of the Income
*J,f
accounted?
income'
t"*.U
Method fo-r
State any four precautions that need to be kept in mind when using the Value Added
calculating national income'
the
In the gov"ernment of India's budget for the_year 2O1g - 1.4 the Finance Minister proposed to raise
than
more
earning
individual
tax
on
income
increase
to
excisebuty on cigarettes. He alsJpropo"ed
( one crore per annum.
Identify and explain the types of taxes proposed by the Finance Minister. Was the objective only
to earn revenue for the govefftment? What possible welfare objectives could the government be
6
considering?
27. Draw a straight line consumption curve. From it derive the saving curve' Explain the process of
6
derivation on the diagram, show :
(a) The income level at which APC = L
(b) The income level at which APS is negative
(a) What is meant by Cash Reserve Ratio? How does it increase the money supply in the economy?
(b) What is meant by Open Market Operation? How does it reduce the money supply t tL!
economy? '
Find (a) National Income and (b) Gross National Disposable
3+3
Income'
(1) Net current transfer from abroad
(ii) Private final consumption expenditure
(iii) Subsidies
(iv)
(v)
(vi)
Net domestic fixed capital formation
Net factor income to abroad
Government finalconsurnption expenditure
(vii)
Change in stock
(viii) Netimports
(ix)
(x)
(xi)
Consumption of fixed caPital
Indirect tax
Exports
Find (a) Private
(i)
(ii)
j
(iii)
(iv)
(v)
(vi)
Or
lrcome and; (b) National lncome'
Personal disposable income
Income frornproperg und entrepreneurship accruing to the government
administrative dePartments
Savings of non-departmental enterprises
Direct personal tax
Net factor income to abroad
Indirect taxes
(vii) Current transfers to the rest of the world
(viii) Savings of private corPorate sector
(ix) Corporation tax
(x) Current transfers from government
6
{ (in Crore)
5
200
20
N
L0
50
(-) 10
(-) 20
30
60
100
{ (in Crore)
350
50
25
L0
(-) s
15
20
25
15
30
II