GURU HARKISHAN PUBLIC SCHOOL, VASANT VIHAR
PRE MOCK EXAMINATION – 2014-15
CLASS 12TH
MAX. MARKS 50
SUBJECT : ECONOMICS
TIME : 2 H0URS
General Instructions:1.
2.
3.
4.
5.
6.
7.
All questions are compulsory.
Marks for questions are indicated against each.
Question Nos.1-3 are very short answer questions carrying 1 mark each. They are required to be
answered in one sentence each.
Questions Nos. 4-8 are short-answer questions carrying 3 marks each. Answer to them should not
normally exceed 60 words.
Questions Nos. 9-10 are also short-answer questions carrying 4 marks each. Answer to them
should not normally exceed 70 words each.
Questions Nos. 11-14 are long answers questions carrying 6 marks each. Answer to them should
not normally exceed 100 words each.
Answer should be brief and to the point and the above word limit be adhered to as far as possible.
MACRO ECONOMICS
1.
Suppose all the customers of a commercial bank demand their deposits at the same
time. What is the role of central Bank to ease situation ?
(1)
2.
Banking measures of credit control are part of
3.
4.
(1)
a)
Fiscal policy
b) Financial Policy
c)
Budgetary policy
d) Monetary policy
Under developed and developing countries should prepare:
a)
Surplus Budget
b)
Balanced Budget
c)
Deficit Budget
d)
None of the above
(1)
Calculate private income from the following data
(3)
(` in Arab )
1.
2.
3.
4.
5.
Income from domestic product accruing to Private sector
254
Net current transfers from Government
10
Net current transfers from ROW
4
Interest on National Debt
10
Net factor income from abroad
(-)3
OR
What are the limitations of using GDP as an index of welfare of a country ? (any two).
5.
What can be the minimum and maximum value of MPC and multiplier and why? (3)
6
Draw on a diagram a straight line consumption curve for an economy. From it derive
the saving curve. Show a point on the consumption curve where APC is equal to 1.(3)
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7.
From the following data calculate
a. Revenue deficit
b. Fiscal deficit
c. Primary deficit.
(3)
(` in Arab )
8
9.
(i)
Tax revenue
47
(ii)
Capital Receipts
34
(iii)
Non tax revenue
10
(iv)
Borrowings
32
(v)
Revenue expenditure
80
(vi)
Interest Payments
20
Foreign exchange rates have risen considerably in a country. What is its likely impact
on imports of that country and why ?
(3)
What is the basis of classification of government expenditure into revenue and
capital expenditure ? Which of these type of expenditure is salaries to government
employees and why?
(4)
OR
Giving reasons, Classify the following into revenue receipts and capital receipts
a)
Recovery of loans
b)
Fines and Penalties
10 . What are the various categories of economic transactions which are recorded in
Balance of Payment account?
(4)
11. Giving reason, Explain how should the following be treated in estimating domestic
factor income of India.
(6)
a)
Profits earned by a branch of foreign bank in India.
b)
Rent received by an Indian resident from Russian Embassy in India
c)
Profits earned by branch of SBI in England.
12.
From the following data calculate the Net National Product at Market Price
By
a) Income method
b) Expenditure method
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
(xi)
13.
14.
Net indirect tax
Net exports
Employer’s contribution to social security scheme
Operating surplus
Net purchase of good and services by Gen Govt.
Net domestic capital formation
Govt Final Consumption Expenditure
Change in stocks
Salses by Gen Govt
Compensation of employees
Private Final Consumption Expenditure
(6)
(` in crore)
40
10
50
110
30
60
130
10
10
500
450
Explain the concept of inflationary gap. Use Diagram. Also explain one fiscal
measure and one monetary measure to correct it.
(6)
Describe the following function of money.
(3+3=6)
a)
Medium of exchange
b)
Standard of deferred payments
OR
Explain briefly the working of money multiplier with the help of numerical example.
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