CBSE Class 12 Economics Question Paper 2011 (Set 58/1)

CBSE CLASS XII Questions

• 1.

  "Although the subsidies play a crucial role in giving incentive to farmers to adopt modern agricultural technologies, they simultaneously impose a significant fiscal strain on the resources of the Government." Justify the given statement with valid arguments.

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• 2.

  "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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• 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.

  In an economy, exclusion of _______ may lead to under estimation of the value of Gross Domestic Product (GDP). 
   

  • Barter Transactions
    
  • Services provided by family members
    
  • Illegal activities
    
  • Depreciation of Assets
    
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• 5.

  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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• 6.

  "Under a study, examining the spending habits of a hypothetical economy, it was observed that even households with zero income managed to consume basic necessities. As the income of people increased, their consumption also increased, but not as rapidly as income."
  Based on the given text and common understanding, answer the following questions: (i) Identify and elaborate the type of consumption indicated in the first para of the above text. (ii) Explain, the reason behind the positive slope of Aggregate Demand Curve.

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