Rajasthan Rbse Class 12 Economics — Real Previous-Year Papers

Fiscal deficit minus interest payment is equals to A) Revenue deficit B) Primary deficit C) Budget deficit D) Capital loss

Which of the following included in the invisible item? A) Non-factor services B) Income C) Transfers D) All of the above

Which of the following is an example of trade barriers? A) Subsidies B) Circular flow C) Tariffs D) Forex rate

Which of the following is the study area of macro economics? A) Aggregate price level B) Determining the quantity of goods C) Determining the price of goods D) None of the above

In a centrally planned economy, all economic decisions are made by A) Government B) Market C) Producer D) Consumer

Indifference curve slopes always is A) Parallel to the horizontal axis B) Left to right upwards C) Left to right downwards D) Right to left upwards

Which of the following is a formula of marginal rate of substitution? A) MRS = Y/X B) MRS = ΔX/ΔY C) MRS = X/Y D) MRS = ΔY/ΔX

If the total output of a firm is 800 units on 10 units of variable inputs, then the average production will be A) 80 B) 100 C) 8 D) 400

Which of the following is the shape of total fix cost curve? [FIGURE: four option graphs on X–Y axes — A) a horizontal straight line parallel to the X-axis; B) a vertical straight line parallel to the Y-axis; C) a downward-sloping curve falling left to right; D) an upward-rising curve sloping up to the right] A) [graph A] B) [graph B] C) [graph C] D) [graph D]

The necessary condition for a perfectly competitive firm is A) MR = AR = P B) MR > AR > P C) MR < AR < P D) P ≠ AR > MR

There will be excess supply in the market at a given price, if A) Market supply = Market demand B) Market supply < Market demand C) Market demand > Market supply D) Market supply > Market demand

Fill in the blank: In the ____ system it is difficult to carry forward one's wealth.

Fill in the blank: In two sector model, there are two sources of demand, the first is consumption and the second is ____.

Fill in the blank: ____ account records all international transactions of assets.

Fill in the blank: In ____ analysis we study that how different mechanisms works.

Fill in the blank: Longrun average cost curve is a ____ shaped curve.

Fill in the blank: By aggregate the supply curves of individual firms we got ____ curve.

Explain the meaning of economic agent.

What do you understand by money?

What do you mean by digital transactions?

What is the most important determinant of consumer demand?

Define the average propensity to consume.

Find the value of MPS, if the MPC = 0.75.

When does a surplus situations occur in the balance of trade?

Write any one feature of market economy.

Explain the cardinal utility analysis.

What is meant by profit of firm?

What is meant by total revenue?

Write any one example of price ceiling good.

What is meant by 'classical approach'?

If the value of MPC is 0.8, then calculate the value of investment multiplier.

'Subsidy is an important policy tool.' Analyse the various subsidies provided by the central government in this context.

Distinguish between current account and capital account.

Find the missing values from the balance of payment table given below. | Sl. No. | Item | Million USD | |---|---|---| | 1. | Trade balance | − 90 | | 2. | Invisibles (Net) | ? | | | a) Non-factor services | 40 | | | b) Income | − 10 | | | c) Transfers | 34 | | 3. | Current Account Balance | ? |

Present a positive economic analysis in the context of the 'GST Bachat Utsav' a tax reforms programme of the central government.

Write any two main features of indifference curve.

What do you mean by return to scale? Explain.

Explain the relation between shortrun marginal cost and average cost.

Explain the concept of 'invisible hand' in perfectly competitive market.

Calculate personal income and personal disposal income from the following data. (in crore) | Item | Amount (in crore) | |---|---| | Net Domestic Product at factor cost | 9,000 | | Net National Income from Abroad | 200 | | Undistributed profit | 1,000 | | Corporate tax | 500 | | Net interest received by households | 300 | | Transfer Payment | 300 | | Personal tax | 500 | **OR** If in a particular year the country's Gross Domestic Product at market price (GDPMP) was ₹ 1,400 crore, Net factor income from Abroad was ₹ 100 crore, indirect tax-subsidies were ₹ 150 crore and National Income (NI) was ₹ 1,050 crore, then calculate the total value of depreciation.

Define the following: i) Cash Reserve Ratio ii) Statutory Liquidity Ratio iii) Open Market Operations. **OR** Define the following: i) Bank rate ii) Net worth iii) Demonetisation.

Explain the derivation of market demand curve in a hypothetical market with two consumers with the help of diagram. **OR** Explain the following constant elasticity demand curves, with the help of diagram. i) eD = 0 ii) eD = ∞ iii) eD = 1

The percentage change in quantity supplied and market price information given in table below, taking the help of that information calculate the price elasticity of supply. | Price of apple (P) in ₹ | Quantity of apples produce and sold (Q) | |---|---| | Old price P1 = 10 | Old quantity Q1 = 200 | | New price P2 = 50 | New quantity Q2 = 1000 | **OR** If in a perfectly competitive market demand and supply curves are shows as following: qD = 1200 − P qS = 600 + 2P then calculate equilibrium price and quantity.

'When government spends more than it collects by way of revenue, its called budget deficit'. Analyse the effects of budget deficit on an economy on the basis of this statement. **OR** 'Annual finance statement constitutes the main budget document of the government.' Analyse the objectives of government budget in reference of this statement.

Suppose a consumer has total budget ₹ 20 and cost of both the goods (x1, x2) is ₹ 5, then arrange the following available bundle sets on suitable place in the table below: (4, 3) (2, 2) (3, 1) (4, 0) (3, 3) (4, 5) (2, 3) (1, 3) | Within budget limit | | | | | |---|---|---|---|---| | Beyond budget limit | | | | | **OR** In table given below write the appropriate answer in the blank space a, b, c, d, e, f, g and h respectively. | Sl. No. | % change in the price of item | % change in demand for the item | Impact on expenditure | The nature of (ed) elasticity of demand | |---|---|---|---|---| | 1 | +10 | − 08 | (a) | e < 1 | | 2 | +10 | − 12 | Decrease | (b) | | 3 | +10 | − 10 | (c) | e = 1 | | 4 | − 10 | + 15 | (d) | e > 1 | | 5 | − 10 | + 07 | Increase | (e) | | 6 | − 10 | + 10 | Unchanged | (f) | | 7 | +10 | − 06 | Increase | (g) | | 8 | − 10 | + 18 | (h) | e > 1 |

Explain the concept of isoquant curve with the help of diagram. **OR** Total cost curve is the vertical sum of total fix cost and total variable cost. Explain with the help of diagram.