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CBSE Class 12 Economics Solved Question Paper 2013

Short Answer Type

31.

Explain the effect of appreciation of domestic currency on imports.

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32.

Distinguish between balance of trade and balance on current account.

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33.

Calculate “sales” from the following data:

S.No	Particulars	(Rs in lakhs)
(i)	Net Value added at factor cost	560
(ii)	Depreciation	60
(iii)	Change in stock	(-) 30
(iv)	Intermediate cost	1000
(v)	Exports	200
(vi)	Indirect taxes	60

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34.

Giving reasons categorize the following into stock and flow:
(i) Capital
(ii) Saving
(iii) Gross domestic product
(iv) Wealth

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35.

Explain the circular flow of income.

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36.

Explain “Banker to the Government” function of the Central Bank.

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Long Answer Type

37.
C = 100 + 0.4 Y is the Consumption Function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1,100. Calculate
(i) Equilibrium level of National Income.
(ii) Consumption expenditure at equilibrium level of national income.

(1) Calculation of equilibrium level of national income:
Given, Consumption Function (C) =100+0.4Y
Investment expenditure (I) = 1,100
At equilibrium level AD= AS OR y= C+I
By substituting values
Y=100+0.4Y + 1100
Y – 0.4Y = 1200
0.6Y=1200
OR Y =2000
Hence equilibrium level of national income = 2000

(2) Calculation of Consumption expenditure at equilibrium level of national income:
C= 100+0.4Y (Given)
Equilibrium level of national income = 2000
C= 100+0.4 *2000
C = 100+ 800
Therefore Consumption expenditure (C) at equilibrium level of national income (2000) = 900

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38.

Complete the following table:

Income (Rs)	Consumption expenditure (Rs)	Marginal Propensity to Save	Average Propensity to Save
0	80
100	140	0.4	-
200	-	-	0
-	240	-	0.20
-	260	0.8	0.35

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39.

Calculate National Income from the following data:

S.No.	Particulars	(Rs in crores)
(i)	Private final consumption expenditure	900
(ii)	Profit	100
(iii)	Government final consumption expenditure	400
(iv)	Net indirect taxes	100
(v)	Gross domestic capital formation	250
(vi)	Change in stock	50
(vii)	Net factor income from abroad	(-) 40
(viii)	Consumption of fixed capital	20
(ix)	Net imports	30