Q4
mcq
1 mark
Read the following statements carefully:
Statement 1: Import of heavy machinery from Japan is a source of demand for foreign exchange.
Statement 2: Financial aid by International Bank for Reconstruction and Development (IBRD) for landslide in Wayanad (Kerala) is a source of supply of foreign exchange.
In the light of the given statements, choose the correct option from the following:
- A. Statement 1 is true and Statement 2 is false.
- B. Statement 1 is false and Statement 2 is true.
- C. Both Statements 1 and 2 are true.
- D. Both Statements 1 and 2 are false.
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Q5
mcq
1 mark
In a two-sector economy, the Aggregate Demand can be determined by adding __________ and __________. (Choose the correct option to fill in the blanks)
- A. consumption, investments
- B. investments, savings
- C. consumption, savings
- D. savings, exports
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Q7
short answer
1 mark
(GVAFC), (GVAMP) ______________________
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Q9
mcq
1 mark
Under the ___________ Exchange Rate System, the Central Bank can control the foreign exchange rate in a range bound manner. (Choose the correct option to fill in the blank)
- A. Fixed
- B. Flexible
- C. Managed floating
- D. Gold standard
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Q10
mcq
1 mark
Read the following statements Assertion (A) and Reason (R). Choose the correct alternative from the options given below:
Assertion (A): Direct taxes are imposed on income/profits of individuals/companies.
Reason (R): The burden of payment of direct taxes cannot be shifted to any other entity.
Options:
- A. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- C. Assertion (A) is true, but Reason (R) is false.
- D. Assertion (A) is false, but Reason (R) is true.
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Q11
short answer
3 marks
Justify the given statement with valid reasons.
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Q12
long answer
3 marks
(a) Explain any two precautions pertaining to the Value Added Method of Estimation of National Income in a country.
OR
(b) On the basis of the following hypothetical data:
(in crore)
Year Nominal GDP Nominal GDP (adjusted to base year prices)
2020-21 3,000 5,000
2022-23 4,000 6,000
Calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022-23 using 2020-21 as the base year.
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Q12
short answer
3 marks
Explain any two precautions pertaining to the Value Added Method of Estimation of National Income in a country.
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Q12
short answer
3 marks
On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022-23 using 2020-21 as the base year.
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Q13
long answer
4 marks
(a) Elaborate any two components of the Capital Account under the Balance of Payments Account.
OR
(b) Distinguish between Autonomous transactions and Accommodating transactions.
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Q13
long answer
4 marks
Elaborate any two components of the Capital Account under the Balance of Payments Account.
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Q13
long answer
4 marks
Distinguish between Autonomous transactions and Accommodating transactions.
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According to a report issued by a research organisation, there is a sharp decline in the overall demand in the economy, particularly in the private consumption segment. This dip in the macro economic variables, highlights the urgent need for strategic actions to stimulate economic activities.
Q14
long answer
4 marks
Read the following text carefully:
According to a report issued by a research organisation, there is a sharp decline in the overall demand in the economy, particularly in the private consumption segment. This dip in the macro economic variables, highlights the urgent need for strategic actions to stimulate economic activities.
On the basis of the given text and common understanding, explain the measure which the government may take to solve the indicated problem.
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Q15
long answer
4 marks
Assuming the following for a hypothetical economy, estimate the level of Break-even Income and Equilibrium Income:
(i) Autonomous Consumption Expenditure $() = 50$ crore
(ii) Marginal Propensity to Save (MPS) = $0.2$
(iii) Autonomous Investments $(I_0) = 300$ crore
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Q16
long answer
2 marks
(a) (i) On the basis of the following data, estimate the value of Net Domestic Product $(NDP_{FC})$:
S.No. Items Amount (in Crore)
(i) Household Consumption Expenditure 800
(ii) Gross Business Fixed Capital Formation 150
(iii) Gross Residential Construction Investment 120
(iv) Government Final Consumption Expenditure 270
(v) Excess of Imports over Exports 20
(vi) Inventory Investments 50
(vii) Gross Public Investments 130
(viii) Net Indirect Taxes 20
(ix) Net Factor Income from Abroad $() 25$
(x) Consumption of Fixed Capital 40
(ii) phase of circular flow of income involves flow of
Justify the statement giving valid reason.
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Q16
long answer
4 marks
(b) (i) Suppose there are only three firms in an imaginary economy, viz. X, Y and Z. During a year, the following transactions took place in the economy:
(I) Firm X sold goods worth 20,000 to Firm Y and 12,000 to Firm Z.
(II) Firm Y sold goods worth 11,000 to Firm X and 35,000 to Firm Z.
(III) Firm Z sold goods worth 57,000 to households for final consumption.
On the basis of the given transactions, calculate the value of Gross Domestic Product at Market Price $(GDP_{MP})$ in the economy.
(ii) Discuss the likely impact of construction of 20 new hospitals in a country on the Gross Domestic Product (GDP) and Welfare in the economy.
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against a common standard. It allows comparison of prices and
Q17
long answer
4 marks
(a) Elaborate the process of Credit Creation using a suitable numerical example.
(b) Read the following text carefully:
against a common standard. It allows comparison of prices and
(i) On the basis of the given text, identify the indicated function of money.
(ii) List any other two functions of money.
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Q18
mcq
1 mark
Identify, which of the following does not indicate the similarities in the policies of India and Pakistan in the post 1947 period.
- A. Dual pricing policy
- B. Green revolution
- C. Import substitution
- D. Mixed economic system
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Q19
mcq
1 mark
Identify, which of the following statements is incorrect about the Rural Banking system in India. (Choose the correct option)
- A. In the post-independence period, a well-structured Rural Banking system was formulated in India.
- B. Rural Banking system in India consists of a set of multi-agency institutions.
- C. Regional Rural Banks, Cooperative and Land Development Banks are few important components of Rural Banking system in India.
- D. Rural Banking system in India works under the guidance, instruction and supervisio
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Q20
mcq
1 mark
In the post-independence era, the policy makers of India pushed for - (Choose the correct option to fill in the blank)
- A. 8
- B. 7
- C. 6
- D. 5
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Q21
mcq
1 mark
Production of diverse varieties of crops rather than one specialized crop is known as diversification of ___________. (Choose the correct option to fill in the blank)
- A. crops
- B. agricultural production
- C. sectoral composition
- D. employment
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Q23
mcq
1 mark
Read the following statements carefully :
Statement 1 : The Food Corporation of India maintains buffer stocks of wheat and rice as a measure to improve market mechanism.
Statement 2 : Minimum Support Price (MSP) is imposed by the government to safeguard the interest of farmers.
In the light of the given statements, choose the correct option from the following :
- A. Statement 1 is true and Statement 2 is false.
- B. Statement 1 is false and Statement 2 is true.
- C. Both Statements 1 and 2 are true.
- D. Both Statements 1 and 2 are false.
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Q24
mcq
1 mark
Suppose an economy is experiencing a situation of rise in Real Gross Domestic Product (GDP), without any corresponding rise in the employment opportunities.
In economic parlance, such a situation is termed as __________ growth. (Choose the correct option to fill in the blank)
- A. casual
- B. informal
- C. formal
- D. jobless
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Q25
mcq
1 mark
Read the following statements Assertion (A) and Reason (R). Choose the correct alternative from the options given below :
Assertion (A) : Excessive regulation of permit license raj prevented certain private firms from becoming more efficient.
Reason (R) : Private sector wasted a significant time in obtaining licenses rather than enhancing product quality and international competitiveness.
Options :
- A. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- C. Assertion (A) is true, but Reason (R) is false.
- D. Assertion (A) is false, but Reason (R) is true.
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Q26
mcq
1 mark
Read the following statements carefully :
Statement 1 : The British policies were accountable for commercialisation of Indian agriculture.
Statement 2 : In the larger interest of Indians, the British rulers focused on the infrastructural growth of India.
In the light of the given statements, choose the correct option from the following :
- A. Statement 1 is true and Statement 2 is false.
- B. Statement 1 is false and Statement 2 is true.
- C. Both Statements 1 and 2 are true.
- D. Both Statements 1 and 2 are false.
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Q27
mcq
1 mark
Read the following statements Assertion (A) and Reason (R). Choose the correct alternative from the options given below :
Assertion (A) : Information plays a crucial role in judicious decision-making about investing in human capital.
Reason (R) : Individuals invest to acquire information about the labour market.
- A. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- C. Assertion (A) is true, but Reason (R) is false.
- D. Assertion (A) is false, but Reason (R) is true.
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Q28
short answer
3 marks
Elaborate the reasons responsible for emergence of poverty in Pakistan.
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Q29
short answer
3 marks
(a) __________ with its resources and wealth being diverted to __________. Justify the given statement with valid explanation.
OR
(b) Appraise the Navratan policy adopted by the Government of India in the reforms of 1991.
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In response to the problem of rapidly rising population, China introduced child. This policy helped China to limit the population growth. This policy led to significant consequences, such as an increase ageing population, gender imbalances due to male child preference and social challenges for single children, etc. This policy was relaxed in 2015, allowing all couples to have two children and further relaxed to three children in 2021. Overall, while the One Child Policy achieved its primary goal of controlling population growth, it also created a complex set of demographic and social challenges that China continues to address today.
Q30
short answer
3 marks
Read the given text carefully and answer the following questions :
In response to the problem of rapidly rising population, China introduced child. This policy helped China to limit the population growth.
This policy led to significant consequences, such as an increase ageing population, gender imbalances due to male child preference and social challenges for single children, etc.
This policy was relaxed in 2015, allowing all couples to have two children and further relaxed to three children in 2021.
Overall, while the One Child Policy achieved its primary goal of controlling population growth, it also created a complex set of demographic and social challenges that China continues to address today.
(a) Explain the consequences of implementation of the One Child Policy in China.
(b) State any one reason for the implementation of the One Child Policy in China.
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Q30
short answer
2 marks
Distinguish between human capital and physical capital.
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Q31
short answer
2 marks
____________ sustainable development in rural areas.
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Q32
short answer
3 marks
Critically appraise the micro-credit programmes in rural India.
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Q32
short answer
2 marks
State and elaborate whether the following statements are true/false, with valid arguments :
(a) Organic farming offers a means to substitute costlier agricultural inputs with locally produced organic inputs.
(b) Informalisation of workforce in India, has increased various concerns on the front of employment generation among the youth of the country.
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Q33
short answer
1 mark
State the meaning of sustainable development.
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Indian labour market indicators have improved in the last six years, as per the Periodic Labour Force Survey Data. The unemployment rate has fallen to 3·2% in 2022 23. Rising youth and female participation in the workforce present an opportunity to tap the demographic and gender dividend. The factory employment data exhibits the bounce back of the organised manufacturing sector in FY 2022 23 with rise in employment and the upscaling of factories. The net payroll additions under EPFO have more than doubled in the past five years, signalling healthy growth in formal employment. To generate and sustain quality employment, agro-processing
Q34
short answer
Read the following text carefully :
Indian labour market indicators have improved in the last six years, as per the Periodic Labour Force Survey Data. The unemployment rate has fallen to 3·2% in 2022 23. Rising youth and female participation in the workforce present an opportunity to tap the demographic and gender dividend. The factory employment data exhibits the bounce back of the organised manufacturing sector in FY 2022 23 with rise in employment and the upscaling of factories.
The net payroll additions under EPFO have more than doubled in the past five years, signalling healthy growth in formal employment.
To generate and sustain quality employment, agro-processing
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Q35
short answer
4 marks
____________ policy adopted by the Government of India in the post 1991 ____________. Defend or refute the given statement with valid arguments.
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Q36
short answer
2 marks
Distinguish between Tariffs and Quotas.
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Q37
long answer
4 marks
Discuss briefly the financial sector reforms undertaken by the Government of India in the post 1991 period.
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Q38
short answer
2 marks
Distinguish between Multilateral Trade and Bilateral Trade.
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Indian labour market indicators have improved in the last six years, as per the Periodic Labour Force Survey Data. The unemployment rate has fallen to 3·2% in 2022 23. Rising youth and female participation in the workforce present an opportunity to tap the demographic and gender dividend. The factory employment data exhibits the bounce back of the organised manufacturing sector in FY 2022 23 with rise in employment and the upscaling of factories. The net payroll additions under EPFO have more than doubled in the past five years, signalling healthy growth in formal employment. To generate and sustain quality employment, agro-processing and care economy are two promising candidates.
Q40
short answer
1 mark
State any one significance of rising youth and female participation in the Indian workforce.
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Q41
short answer
2 marks
Identify any two sectors which may be highlighted as promising for generating quality employment in India.
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Q42
long answer
3 marks
Elaborate the meaning of disguised unemployment with the help of a suitable example.
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