(Paper) Economics Class - XII Sample Paper 2000- Part - 2
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Economics
Class - XII
Sample Paper 2000
- Part - 2
Q
Why are imports not included in the estimation of national income. (1mark)
Q Calculate value added by firm A and by firm B from the
following data.
| Rs. (lakhs) | ||
| i. | Purchases by firm A from rest of the world | 40 |
| ii | Sales by firm B | 90 |
| iii | Purchase by firm A from firm B | 10 |
| iv | Sales by firm A | 10 |
| v | Exports by firm A | 30 |
| vi | Opening stock of firm AY | 20 |
| vii | Closing stock of firm B | 20 |
| viii | Closing stock of firm A | 25 |
| ix | Opening stock of firm B | 60 |
| x | Purchases by firm B from firm A | 40 |
| xi | Sales by firm P to general Government | 20 (3) |
Q
Distinguish between intermediate goods and final goods. Give two examples of
each.(3 marks)
Q Calculate gross national product at factor cost
from the following data :
| Rs. (crores) | ||
| i. | Net domestic fixed capital formation | 50 |
| ii | Private final consumption expenditure | 500 |
| iii | Subsidies | 10 |
| iv | Opening stock | 30 |
| v | Net factor income from abroad | -(10) |
| vi | Closing stock | 40 |
| vii | Net indirect taxes | 50 |
| viii | Government final consumption expenditure | 200 |
| ix | Consumption of fixed capital | 60 |
| x | Net exports |
15 (3) |
Q Calculate national income from the following data :
| Rs. (crores) | ||
| i. | Profits | 220 |
| ii | Compensation of employees | 350 |
| iii | Interest | 100 |
| iv | Consumption of fixed capital | 50 |
| v | Opening Stock | 30 |
| vi | Subsidies | 20 |
| vii | Closing stock | 50 |
| viii | Mixed income of self-employed | 150 |
| ix | Employer's contribution to scial security schemes | 30 |
| x | Net factor income from abroad | 10 |
| xi | Rent | 80 |
| xii | Indirect taxes | 90 (3) |
Q
Explain the relationship between marginal revenue and total revenue. (2 marks)
Q Distinguish between expansion of supply and increase in supply. Explain
briefly.(3 marks)
Q
When will the gross domestic product of an economy be equal to its gross
national product. (1 mark)
Q From the following data calculate value added by
firms P and Q.
| Rs. (crores) | ||
|
i.
|
Purchases by firm P from firm Q | 40 |
|
ii
|
Sales by firm Q | 90 |
|
iii
|
Imports of Raw material by firm Q | 10 |
|
iv
|
Exports by firm Q | 10 |
|
v
|
Closing stock of firm P | 30 |
|
vi
|
Opening stock of firm P | 20 |
|
vii
|
Closing stock of firm Q | 20 |
|
viii
|
Opening stock of firm Q | 25 |
|
ix
|
Purchases by firm Q | 60 |
|
x
|
Sales by firm P to house holds | 40 |
|
xi
|
Sales by firm P to genral government | 20 (3) |
Q Distinguish between economic goods and non-economic goods. (3 marks) Q Calculate gross national product at factor cost from the following data :
| Rs. (crores) | ||
|
i.
|
Private final consumption expenditure | 100 |
|
ii
|
Net domestic fixed capital formation | 150 |
|
iii
|
Government final consumtion expenditure | 350 |
|
iv
|
Direct purchases abroad by resident households | 50 |
|
v
|
Gross domestic capital formation | 40 |
|
vi
|
Opening stock | 60 |
|
vii
|
Net indirect taxes | 90 |
|
viii
|
Imports | 200 |
|
ix
|
Exports | 70 |
|
x
|
Closing stock | 40 |
|
xi
|
Sales by firm P to genral government | -(10) (3) |
Q Calculate national income from the following data :
| Rs. (crores) | ||
|
i.
|
Dividends | 300 |
|
ii
|
Rent | 100 |
|
iii
|
Wages and salaries | 100 |
|
iv
|
Corporation Tax | 50 |
|
v
|
Consumption of fixed capital | 120 |
|
vi
|
Net indirect taxes | 20 |
|
vii
|
Undistributed profits | 50 |
|
viii
|
Mixed income of self-employed | 15 |
|
ix
|
Interest | 5 |
|
x
|
Employer's contribution to social security schmes | 30 (3) |
|
xi
|
Net factor income from abroad | 20 (3) |
Q
Explain the reasons for the inverse relationshipbetween the price of a commodity
and demand of it.
Q
Explain the concept of equilibrium price with the help of market demand and
supply schedules.
Q Briefly explain the main features of the Ricardian theory of rent.