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1. | Why is economic problem regarded as the problem of choice? | [1] |
2. | What effect does an increase in input price have on supply curve? | [1] |
3. | Define indifference curve. | [1] |
4. | What is meant by market period? | [1] |
5. |
What does the average fixed cost curve look like? Why does it look so? | [3] |
6. | Does production take place on a PP curve? Explain. | [3] |
7. | Price of a good falls from र 10 to र 8. As a result its demand rises from 80 units to 100 units. What can you say about price elasticity of demand by total expenditure method? | [4] |
8. |
Explain law of variable proportion with the help of TPP and MPP curves.
| [4] |
The following table gives the average product schedule of labour. Find the total product and marginal product schedules. It is given that the total product is zero at zero level of labour employment.
L |
1 |
2 |
3 |
4 |
5 |
6 |
APL |
2 |
3 |
4 |
4.25 |
4 |
3.5 |
'If a product price increases, a family's spending on the product has to increase.' Defend or refute.
Distinguish between extension of demand and contraction of demand with the help of a diagram.
(b) What is 'movement along a demand curve'? Show it with the help of a diagram.
(c) What causes an upward movement along a demand curve of a commodity?
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity .
From the following data calculate GDP at MP :
(र in crores) |
||
(i) |
Value of output in primary sector |
2,000 |
(ii) |
Intermediate consumption of secondary sector |
800 |
(iii) |
Intermediate consumption of tertiary sector |
1,000 |
(iv) |
Net factor income from abroad |
-30 |
(v) |
Net indirect taxes |
300 |
(vi) |
Value of output in tertiary sector |
1,400 |
(vii) |
Value of output of secondary sector |
1,800 |
(viii) |
Intermediate consumption of tertiary sector |
600 |
13. | Give examples of macroeconomic aggregates. | [1] |
14. | Give legal definition of money. | [1] |
15. | What is GNP deflator? | [1] |
16. | Which institution performs the function of a Clearing House in commercial banking system? | [1] |
17. |
In an economy 75% of increase in income is spent on consumption. Investment is increased by र 1000 crores. Calculate: | [3] |
19. |
Calculate (a) Private income, and (b) Personal disposable income from the following data: (र in crores) (i) Income from property and entrepreneurship to govt. adm. deptt. 500 (ii) Savings of non-departmental public enterprises. 100 (iii) Corporation tax 80 (iv) Income from domestic product accruing to private sector 4500 (v) Current transfers from govt. administrative departments 200 (vi) Net factor income from abroad -50 (vii) Direct personal taxes 150 (viii) Indirect tax 220 (ix) Current transfers from rest of world 80 (x) Savings of private corporate sector 500 | [4] |
20. |
Explain the 'medium of exchange' function of money. How has it solved the related problem created by barter? | [4] |
21. |
Calculate Gross National Disposal Income (GNDI) from the following data.
| [4] |
22. | What do you understand by fiscal deficit? What problem can fiscal deficit create? How is it financed? | [6] |
23. |
Explain national income equilibrium through aggregate demand and aggregate supply. Use diagram. Also explain the changes that take place in an economy when the economy is not in equilibrium.
| [6] |