important questions ch 1,2,3,4,5,6,10 economic CLASS 12

 

1. Explain the concept of a fiscal deficit in a government budget. What does it indicate?  (4)

2. From the given information, determine the following:                            (3)

(a) Capital expenditure

(b) Total expenditure

(c) Interest payments

Particulars	(₹ in crores)
Fiscal deficit Revenue deficit Primary deficit Revenue receipts Non-debt capital receipts	12,000 9,000 5,000 6,000 10,000

3. If total deposits created by commercial banks are Rs. 12,000, LRR is 25%, calculate initial deposit.                                             (3)

 

4. Explain the following functions of the Central Bank.         (4)

 (i) Bank of issue
(ii) Banker’s bank

5. Explain the process of money creation by commercial banks with the help of a numerical example.                                                   (6)                                            

6. Classify the following statements as revenue receipts or capital receipts. Give valid reasons in support of your answer.    (4)
(a) Financial help from a multinational corporation for victims in a flood affected area.
(b) Sale of shares of a Public Sector Undertaking (PSU) to a private company, Y Ltd
(c) Dividends paid to the Government by the State Bank of India.
(d) Borrowings from International Monetary Fund (IMF).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Suppose the GDP at market price of a country in a particular year was Rs 1,100 crores. Net Factor Income from Abroad was Rs 100 crores. The value of Indirect taxes − Subsidies was Rs 150 crores and National Income was Rs 850 crores. Calculate the aggregate value of depreciation.      (3)

 

2. The value of the nominal GNP of an economy was Rs 2,500 crores in a particular year. The value of GNP of that country during the same year, evaluated at the prices of same base year, was Rs 3,000 crores. Calculate the value of the GNP deflator of the year in percentage terms. Has the price level risen between the base year and the year under consideration?    (3)

3. Calculate NNP at market price by                                     (6)

• Production method, and 

• Income method.

S.No	Contents	Rs. (in crores)
1	Intermediate consumption Primary sector Secondary sector Tertiary sector	500 400 300
2	Value of output of Primary sector Secondary sector Tertiary sector	1000 900 700
3	Rent	10
4	Emoluments of employers	400
5	Mixed income	650
6	Operating surplus	300
7	Net factor income from abroad	-20
8	Interest	05
9	Consumptive of fixed capital	40
10	Net indirect tax	10

4. Define the problem of double counting in the computation of national income. State any two approaches to correct the problem of double counting.                       (4)

5. Giving reasons, state whether the following statements are true or false,   (3)
(i) Real gross domestic product can be equal to nominal gross domestic product.
(ii) Savings are a stock.
(iii) Butter is only a final product.

 

6. Giving reasons, explain the treatment assigned to the following while estimating National Income                      (2)

(i) Expenditure on maintenance of a building.
(ii) Expenditure on adding a floor to the building. 

7. How will you treat the following while estimating domestic product of a country? Give reasons for your answer.                    (3)
(i) Profits earned by branches of country’s bank in other countries.
(ii) Gifts given by an employer to his employees on Independence Day.
(iii) Purchase of goods by foreign tourists.