Meghalaya Mbose Class 12 Economics — Real Previous-Year Papers

Which of the following receipts in the government budget increases its liability? (a) Borrowing (b) Disinvestment (c) Recovery of loans (d) Dividend from PSUs

Read the following statements and choose the correct answer from the given alternatives: Statement 1: Balance of Trade records invisible items only. Statement 2: Balance of Payments records visible items, invisible items, unilateral transfers and capital transfers. (a) Both the Statements are true (b) Both the Statements are false (c) Statement 1 is true and Statement 2 is false (d) Statement 2 is true and Statement 1 is false

Read the following Assertion (A) and Reason (R). Choose the correct alternative given below: Assertion (A): Devaluation of Indian rupee implies that more rupees are required to buy a dollar. Reason (R): Devaluation of domestic currency makes foreign goods more expensive. (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

Gifts and donations from abroad are recorded in the (a) credit side of Current Account of BOP (b) debit side of Current Account of BOP (c) credit side of Capital Account of BOP (d) debit side of Capital Account of BOP

Define GDP deflator. In an economy, if the real GDP is Rs. 300 crore and nominal GDP is Rs. 360 crore, calculate GDP deflator. (1+2=3)

OR (Question 11 alternative) Giving reasons, classify the following as intermediate or final goods: (1+1+1=3) (a) Oranges purchased by a fruit seller (b) Milk purchased by a household (c) Wood purchased for making chairs

What is balance of trade? The balance of trade shows a deficit of Rs. 500 crore. If the value of exports is Rs. 400 crore, what is the value of import? (1+2=3)

OR (Question 12 alternative) Explain the effects of increase in supply of foreign currency on equilibrium exchange rate.

Differentiate between the Central Bank and Commercial Bank. Explain any one function of the Central Bank. (2+2=4)

(a) On the basis of the following hypothetical data— Income (Y) : Consumption (C) Rs. 1,000 crore : Rs. 750 crore calculate (i) APC and (ii) APS. (1+1=2) (b) On the basis of the following hypothetical data— Income (Y) : Consumption (C) Rs. 1,000 crore : Rs. 750 crore Rs. 1,200 crore : Rs. 900 crore calculate (i) MPC and (ii) MPS. (1+1=2)

OR (Question 14 alternative) What is full employment? Compare between Voluntary unemployment and Involuntary unemployment. (1+3=4)

Giving reasons, categorize the following into revenue expenditure and capital expenditure: (1+1+1+1=4) (a) Repayment of loan borrowed from the World Bank (b) Provision of subsidies by the government (c) Expenditure on law and order (d) Expenditure on construction of a dam

OR (Question 15 alternative) What does it imply if primary deficit is zero? Find borrowing by the government if interest payment is Rs. 1,950 crore which is 25% of primary deficit. (1+3=4)

Explain the circular flow of income in a two-sector model.

OR (Question 16 alternative) Explain the expenditure method of measuring national income.

Explain the determination of equilibrium level of output and income with the help of aggregate demand and aggregate supply curves.

OR (Question 17 alternative) The saving function of an economy is given by S = -50 + 0.5Y and the investment is Rs. 7,000 crore. Calculate— (a) equilibrium level of income; (b) consumption level at the equilibrium level of income; (c) level of savings at Rs. 12,000 crore income level. (2+2+2=6)

After Independence, in order to bring equity in agriculture, land reforms/policies were introduced by the government that include (i) abolition of Zamindari system (ii) Green Revolution (iii) land ceiling Alternatives: (a) Only (i) (b) Only (ii) (c) Both (i) and (iii) (d) (i), (ii) and (iii)

Selling off part of the equity of PSUs is called (a) globalization (b) privatization (c) disinvestment (d) None of the above

____ and ____ currency notes of old Mahatma Gandhi Series were banned as legal tender money on 8th November, 2016. (a) Rs. 50, Rs. 100 (b) Rs. 200, Rs. 500 (c) Rs. 500, Rs. 1,000 (d) Rs. 500, Rs. 2,000

Which of the following is the correct formula for calculating worker–population ratio? (a) (Total labour force / Total population) × 100 (b) (Total workers / Total population) × 100 (c) (Total population / Total labour force) × 100 (d) (Total population / Total workers) × 100

Choose the correct pair: Column—I : Column—II (a) Short-term credit : (i) Sustains soil fertility (b) Chemical farming : (ii) Tastier and healthier food (c) Cooperative credit societies : (iii) Adequate credit to the farmers at reasonable rate of interest (d) Regular workers : (iv) Daily wages (a) (a) (b) (b) (c) (c) (d) (d)

Regular workers are hired on ____ basis and are entitled to social security benefits. (a) temporary (b) permanent (c) Both (a) and (b) (d) Neither (a) nor (b)

Read the following Assertion (A) and Reason (R). Choose the correct alternative given below: Assertion (A): China has the highest life expectancy in the world. Reason (R): Maternal mortality rate of India is higher than that of China. (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

In China, commune system is related to ____ sector. (a) agriculture (b) industry (c) service (d) None of the above

____ initiated its process of economic reforms in 1991. (a) China (b) Pakistan (c) India (d) All of the above

Read the following statements carefully and choose the correct answer among the given alternatives: Statement 1: In both India and Pakistan, the service sector has been emerging as a major source of development. Statement 2: Among China, Pakistan and India, Pakistan has the lowest life expectancy rate. (a) Both the Statements are true (b) Both the Statements are false (c) Statement 1 is true and Statement 2 is false (d) Statement 2 is true and Statement 1 is false

Give a quantitative appraisal of India's demographic profile during the colonial period.

OR (Question 28 alternative) What are the measures adopted by the government to promote globalization in the Indian economy?

"Use of public transport in place of personal transport reduces environmental degradation." Justify the given statement.

"Active government intervention is essential in education and health sectors in India." Do you agree with the given statement? Give reasons.

OR (Question 30 alternative) What is agricultural diversification? Why is agricultural diversification essential for sustainable livelihood? (1+3=4)

Differentiate between: (2+2=4) (a) Regular worker and Casual worker (b) Formal sector and Informal sector

Compare the economies of India and China on the following two parameters: (2+2=4) (a) Human Development Index (b) GDP growth

What was the state of the industrial sector of the Indian economy on the eve of Independence?

OR (Question 33 alternative) Elucidate the importance of small-scale industries in the economy of India.

Define human capital formation. What factors contribute to human capital formation? (1+5=6)

OR (Question 34 alternative) What is agricultural marketing? Spell out the measures taken by the government to improve agricultural marketing system. (1+5=6)