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CBSE Guess > Papers > Important Questions > Class XII > 2012 > Economics > Economics By Mr.

Raghuvanshi Kuldeep

Economics - CBSE CLASS XII

Set - II
Section: A -Micro Economics
Q.1. Define marginal opportunity cost Q.2. Define budget line. For - 1 Mark For - 1 Mark

Q.3. What will you say about TE in situation of unitary elastic Ed ,if price are fallings? For - 1 Mark Q.4. Define cost function. Q.5. Define excess demand For - 1 Mark For - 1 Mark

Q.6. Distinguish between positive and normative statements .Give one example of each. For - 3 Mark Q.7.Define MU how it is related with TU? Use diag. Or Q.. Distinguish between decrease in demand and decrease in quantity demanded? Q.8. On the basis of information given below , compare the price elasticities of good A and B For - 3 Mark For - 3 Mark

Price per

TE

Price per

TE

unit(Rs) 4 5 20 30

unit(Rs) 3 4 15 24

Q.9. i . What will be the rate of TPP if MPP is negative? 3 Mark ii. Is STC zero at zero level of o/p? (Y/N)

For -

iii. What would be the shape of price line if TR curve is a horizontal line . Q.10 .State three ways in which an oligopoly firm may behave For - 3 Mark

Q.11. Why is consumer equilibrium attained at that point where Mux= Px.MU of money? For - 4 Mark Or Q..Let A and B are two related goods. How will the change in price of A demand for good B? Q.12.IS MC = MR condition sufficient for determining producer equilibrium ?Explain For - 4 Mark Q.13. What does AFC look like? Why does it look so? Explain with diagram. 4 Mark Q.14 . A. Define IC curve. Why it is vly slopped downward? B. Explain the inverse relationship between the price of a commodity and its demand? For - 3 + 3 Marks Q.15 . What are the different phases of the behavior of total product in the law of variable proportion . Use diagram. Also state the reason behind behavior of each phase For - 6 Marks Q.16 . i. Explain the implications of free entry and exit of a firm under the perfect market. ii. Explain the mutual inter dependency of a firm under the oligopoly. 3 Marks For - 3 + For effect the

Section2 : Macro Economics

Q.17 . Define transfer payments For - 1 Mark For - 1 Mark

Q.18 .Name two components money supply.

Q.19 . Define legal reserve ratio

For - 1 Mark For - 1 Mark

Q.20 . Define investment demand function

Q.21. If exchange rate increase from Rs 40 to $1 =R45 what will happen with exports? For - 1 Mark Q.22 . Calculate compensation of employee For - 3 Mark

Item Wages and salaries paid in cash Free accommodation and uniform Insurance Premium paid by the employee Employers contribution to PF Income tax paid by the employee Bonus

Rs 20000

4000

500

2000

1500 700

Or Q . Why should the aggregate expenditure of an economy be equal to the factors payment ? Q.23. Distinguish between intermediate goods and final goods. Give two example of each. For - 3 Mark For - 3 Mark For -

Q.24. Define money supply explain its components.

Q.25. Explain lenders to the last resort function of the central bank. 3 Mark

Q.26. If value of domestic currency appreciate in comparison of German Mark. Explain its impact on exports and imports of domestic economy with Germany. For 3 Mark Q.27. How is money supply is measured in India by RBI? For - 4 Mark

Q.28. What are the basis used to classify the tax receipts into direct tax and indirect tax? For - 4 Mark

Q.29. If mpc is 0.9. What will be the value of Investment multiplier. How much additional investment is required to increase the NY by Rs.5000 cr.

Or Q . Why equilibrium level of income/o/p and employment is occurred before or after the full employment is attained For - 4 Mark Q.30 . In an economy s= -50 + .5Y is the saving function and investment expenditure is Rs 7000 cr. Calculate For - 6 Mark (a) Equilibrium level of national income (b)Consumption expenditure at equilibrium level of income (c)Value of investment multiplier Or Q . Explain the concept of under employment equilibrium by using C,I approach.Show on the same diagram the additional investment expenditure required to reach full employment equilibrium Q.31. A. Give the meaning of Nominal GDP and Real GDP. Which of these is the indicator of economic welfare B. Define revenue deficit. State its implications. For - 3 + 3 Marks

Q.32 . calculate (a) personal disposable income and ,(b) National income from the following data For - 6 Mark

Item 1 Rent 2 Mixed income of self employed Profit Income from domestic product accuring to private sector Compensation of employees Reimbursement to the employee for medical expenses consumption of fixed capital Excess of fact or income to rest of the world Over factor income from rest of the world Excess of imports over exports Corporate profit tax Net retained earnings of private enterprises

Rs in Cr 1000 4000 1500 3000 35000 1000 500

1200

400 200 1200

Interest Net indirect tax Direct personal tax

700 540 200

Prepared By: Mr. Raghuvanshi Kuldeep mail to: raghuvanshi.kd@hotmail.com

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