Uttarakhand Ubse Class 12 Economics — Real Previous-Year Papers

What do you understand by repo rate and reverse repo rate?

Distinguish between stock and flow. Between net investment and Capital, which is a stock and which is a flow?

State the merits and demerits of flexible exchange rate system.

Explain the meaning of foreign exchange market. Mention any two major participants of this market.

In which economic system there is co-existance of private as well as public sectors?

Write the equation of budget line.

How many methods of measuring elasticity of supply?

What is the law of variable proportions?

What do you understand by Total Variable Cost (TVC) of a firm?

What is production possibility frontier? Clarify.

Mention the features of perfect competition market.

What is Indifference curve? Why does the indifference curve slope downwards.

Suppose a consumer can afford to buy 6 units of goods 1 and 8 units of goods 2, if he spends his entire income. The prices of the two goods are Rs. 6 and Rs. 8 respectively. How much is the consumer's income?

Define price elasticity of demand and state the factors determining it.

What is meant by 'Returns to Scale'? State the reasons for increasing returns to scale?

Suppose the demand and supply curves of salt are given by- qD = 1000 - P qS = 700 + 2P Find the equilibrium price and quantity.

Now suppose that the price of an input used to produce salt has increased so that the new supply curve is qS = 400 + 2P. How does the equilibrium price and quantity change? Does the change conform to your expectation?

What is demand curve? How does the demand curve shift? Explain with diagram.

The following table gives the marginal product schedule of labour. It is also given that total product of labour is zero, at zero level of employment. Calculate the total and average product schedules of labour : L : 1, 2, 3, 4, 5, 6 Marginal Product (MPL) : 3, 5, 7, 5, 3, 1

How is the wage rate determined in the perfectly competitive labour market? Explain with the help of diagram.

To include the value of goods or services more than one time in the estimation of National income is called : (a) Single counting (b) Double counting (c) Multiple counting (d) None of these (a) Single counting (b) Double counting (c) Multiple counting (d) None of these

Money Multiplier is : (a) 1/CRR (b) Cash × 1/CRR (c) Cash × CRR (d) None of these (a) 1/CRR (b) Cash × 1/CRR (c) Cash × CRR (d) None of these

If mpc=0.5 then multiplier (K) will be : (a) 1/2 (b) 1 (c) 2 (d) 0 (a) 1/2 (b) 1 (c) 2 (d) 0

The component(s) of a Balance of Payment is/are : (a) Current Account (b) Capital Account (c) Both (i) and (ii) (d) None of these (a) Current Account (b) Capital Account (c) Both (i) and (ii) (d) None of these

Read the following both statements and choose the correct option : Assertion (A) : Average Propensity to Consume (APC) can never be zero. Reason (R) : Autonomous consumption is the level of consumption at zero level of Income. (a) Both A and R are correct and R is the correct explanation of A. (b) Both A and R are correct but R is not the correct explanation of A. (c) A is correct but R is incorrect. (d) Both A and R are incorrect. (a) Both A and R are correct and R is the correct explanation of A. (b) Both A and R are correct but R is not the correct explanation of A. (c) A is correct but R is incorrect. (d) Both A and R are incorrect.

What name did economist Adam Smith give to his most influential work?

Fill in the blanks - ……………… = Saving (S) / Income (y)

Which type of tax is income tax, Direct or Indirect?

What are the main functions of money? Mention.

Define Investment.

Differentiate between devaluation and depreciation.

What is marginal propensity to consume? How it is related to marginal propensity to save?

How is National Income measured according to Value Added method? Explain.

The GDP at market price of a country in a particular year was ₹1100 crores. Net factor income from Abroad was ₹100 crores. The value of indirect taxes-Subsidies was ₹150 crores and National Income was ₹850 crores. Calculate the aggregate value of depreciation.

What is Multiplier? How is it calculated? Explain with an example.

Read the following passage carefully and answer the questions given below- Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to what is called government debt. The concepts of deficits and debt are closely related. Deficits can be thought of as a flow which add to the stock of debt. If the government continues to borrow year after year, it leads to the accumulation of debt and the government has to pay more and more by way of interest. These interest payments themselves contribute to the debt. What is taxation?

Read the following passage carefully and answer the questions given below- Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to what is called government debt. The concepts of deficits and debt are closely related. Deficits can be thought of as a flow which add to the stock of debt. If the government continues to borrow year after year, it leads to the accumulation of debt and the government has to pay more and more by way of interest. These interest payments themselves contribute to the debt. What is government debt?

Read the following passage carefully and answer the questions given below- Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to what is called government debt. The concepts of deficits and debt are closely related. Deficits can be thought of as a flow which add to the stock of debt. If the government continues to borrow year after year, it leads to the accumulation of debt and the government has to pay more and more by way of interest. These interest payments themselves contribute to the debt. How does debt accumulation occur?

Read the following passage carefully and answer the questions given below- Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to what is called government debt. The concepts of deficits and debt are closely related. Deficits can be thought of as a flow which add to the stock of debt. If the government continues to borrow year after year, it leads to the accumulation of debt and the government has to pay more and more by way of interest. These interest payments themselves contribute to the debt. What is budgetary deficit?

Read the following passage carefully and answer the questions given below- Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to what is called government debt. The concepts of deficits and debt are closely related. Deficits can be thought of as a flow which add to the stock of debt. If the government continues to borrow year after year, it leads to the accumulation of debt and the government has to pay more and more by way of interest. These interest payments themselves contribute to the debt. What is obtained by subtracting interest payment from fiscal deficits?