CBSE Class 12 Economics Question Paper 2009 (Set 58/1/1)

CBSE CLASS XII Questions

• 1.

  Read the following text carefully:
  “A country’s total National Income (NI) at the end of the year is ₹ 80,000 crore. During the same year, the Gross Domestic Product (GDP) increased by ₹ 2,00,000 crore. Price index for capital goods at the end of year is ₹ 15 lakh crore. Additionally, country invested ₹ 8,000 crore in new capital goods industries.”
  In the light of the above text, classify the items as ‘stock’ or ‘flow’ variables with valid arguments. OR The value of Nominal Gross National Product (GNP) of an economy was ₹ 2,500 crore in a particular year. The value of Gross National Product (GNP) of that country during the same year, estimated at the prices of base year was ₹ 3,000 crore.

  • [(i)] Estimate the Gross National Product (GNP) deflator (in percentage).
  • [(ii)] “The price level has risen between the base year and the year under consideration.” Defend or refute the statement with suitable argument.

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• 2.

  In an economy, when __________ is insufficient to achieve the level of output corresponding to the full employment, the difference is termed a deflationary gap. 
   

  • ex-ante Aggregate Demand
    
  • ex-post Aggregate Demand
    
  • ex-ante Aggregate Supply
    
  • ex-post Aggregate Supply
    
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• 3.

  Refer the given image carefully:

  

  Explain any two measures that can be taken by the Central Bank to control the indicated macroeconomic problem.

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• 4.

  Identify which of the following is a `Stock' variable:
  

  • Monthly Salary of a teacher
    
  • Distance between Delhi and Mumbai
    
  • Annual Interest on savings
    
  • Quantity of wheat produced in a year
    
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• 5.

  For a hypothetical economy, assuming there are only two firms (X and Y) with equal values of Gross Value Added (GVA). On the basis of the following data, estimate the values of Domestic Sales by firm X:

  

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• 6.

  In an economy, exclusion of _______ may lead to under estimation of the value of Gross Domestic Product (GDP). 
   

  • Barter Transactions
    
  • Services provided by family members
    
  • Illegal activities
    
  • Depreciation of Assets
    
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