CBSE 12TH ECONOMICS EXPECTED QUESTION PAPER SET-1 SOLUTION
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| CBSE 12TH ECONOMICS EXPECTED QUESTION PAPER SET-1 SOLUTION |
Hy lovely students welcome to Ankit commerce official website as you know that CBSE 12th board exam is near and many students are looking for CBSE 12TH ECONOMICS EXPECTED QUESTION PAPER.SET-1 SOLUTION so our Ankit commerce team analyzes the question asked in the previous year 12th ECONOMICS exam and prepared a series of expected questions paper.
This is the first part of CBSE 12TH ECONOMICS EXPECTED QUESTION PAPER SET-1 SOLUTION. I strongly recommend every commerce student to attempt these EXPECTED QUESTION PAPER SET honestly and check their preparation level
Dear students The 12th board exam is considered a crucial phase of every student's life so practice hard to score good marks .....
Section A
1.Tax
2. National product or national income can be defined as the total money value of all goods and services produced by the normal residents of a country during a financial year. It is also measured at both market price and factor cost.
3.(c) APS =0
Explanation: APS=0 , implies that all income is consumed Thus, APC=Y/Y=1
As, Y=C.(all income is consumed
4. The managed floating system is a system in which the central bank allows the exchange rate to be determined by market forces but intervenes at times to influence the rate. When the central bank finds the rate is too high, it starts selling foreign exchange from its reserve to bring down it. When it finds the rate is too low. It starts buying to raise the rate
.
OR
The difference between the value of imports and exports of only physical goods or visible items is called the Balance of trade.
Explanation: Yes. Public expenditure can be both Plan and Non-plan expenditure. The expenditure relating to specific plans and programs of development is plan expenditure and non-plan expenditure is not related to any specific plan or program. Expenditure on defense and subsidies, salaries and pensions is an example of non-plan expenditure.
6. 0.4
7.Increases
8.True
9.Budget deficit
10. (a) - (iv), (b) - (i), (c) - (ii), (d) - (iii)
11. Fiscal deficits are not necessarily inflationary; though, they are generally regarded as inflationary. When the government expenditure increases and tax reduces, there is a government deficit and there will be a corresponding increase in the aggregate demand. However, the firms might not be able to meet the growing demands, forcing the price to rise. Hence fiscal deficits are inflationary in this sense.
But on the other hand, initially, if the resources are underutilized (due to insufficient demand) and output is below full employment level, then with the increase in government expenditure, more factor resources will be employed to cater to the increasing demand without exerting much pressure on the price to rise. In this situation, a high fiscal deficit is accompanied by high demand, greater output level, and lesser inflationary situation. Hence, whether the fiscal deficits are inflationary or not depends on how close is the original output level to the full employment level.
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