CBSE Class 12 Economics Question Paper 2014 (Set 58/2/1)

CBSE CLASS XII Questions

• 1.

  Calculate the value of ‘Rent’ from the following data:

  

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• 2.

  In an economy, when __________ is insufficient to achieve the level of output corresponding to the full employment, the difference is termed a deflationary gap. 
   

  • ex-ante Aggregate Demand
    
  • ex-post Aggregate Demand
    
  • ex-ante Aggregate Supply
    
  • ex-post Aggregate Supply
    
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• 3.

  "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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• 4.

  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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• 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.

  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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