CBSE Class 12 Economics Question Paper 2007 (Set 58/2/1)

CBSE CLASS XII Questions

• 1.

  Identify which of the following is a `Stock' variable:
  

  • Monthly Salary of a teacher
    
  • Distance between Delhi and Mumbai
    
  • Annual Interest on savings
    
  • Quantity of wheat produced in a year
    
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• 2.

  Read the following statements carefully:
  Statement 1: During the British rule in India, the export surplus was utilised to import invisible items from Britain.
  Statement 2: Indians paid for the expenses incurred by an office set up by the colonial government in Britain. In the light of above statements, choose the correct option from the following:

  • Statement 1 is true and statement 2 is false.
    
  • Statement 1 is false and statement 2 is true.
    
  • Both statements 1 and 2 are true.
    
  • Both statements 1 and 2 are false.
    
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• 3.

  In an economy, the currency held by the public, Net Demand Deposits with Commercial Banks and Net Time Deposits with Commercial Banks stand at ₹ 1,42,000 crore, ₹ 22,000 crore and ₹ 86,000 crore respectively. The value of Money Supply (M1) would be ₹ _______ crore.

  • 2,50,000
    
  • 86,000
    
  • 1,64,000
    
  • 1,42,000
    
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• 4.

  Read the following text carefully:
  “A country’s total National Income (NI) at the end of the year is ₹ 80,000 crore. During the same year, the Gross Domestic Product (GDP) increased by ₹ 2,00,000 crore. Price index for capital goods at the end of year is ₹ 15 lakh crore. Additionally, country invested ₹ 8,000 crore in new capital goods industries.”
  In the light of the above text, classify the items as ‘stock’ or ‘flow’ variables with valid arguments. OR The value of Nominal Gross National Product (GNP) of an economy was ₹ 2,500 crore in a particular year. The value of Gross National Product (GNP) of that country during the same year, estimated at the prices of base year was ₹ 3,000 crore.

  • [(i)] Estimate the Gross National Product (GNP) deflator (in percentage).
  • [(ii)] “The price level has risen between the base year and the year under consideration.” Defend or refute the statement with suitable argument.

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• 5.

  Income generated from Aircrafts of Air India operating between Canada and England would be added to the domestic income (NDPFC) of ____________.

  • Canada
    
  • England
    
  • Both Canada and England
    
  • India
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• 6.

  "Under the provisions stated in Section 20 and Section 21 of the Reserve Bank of India (RBI) Act, 1934, the RBI is mandated to handle the banking operations of the Government of India."
  In the light of the given statement, elaborate the indicated function of the Reserve Bank of India.

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