Economics Exam Paper 2023 PDF

Here is the converted text of the images in a structured markdown format: # New Syllabus * Total No. of Question: 24 * Total No. of Printed Pages: 7 Subject: Economics Time: 3 hours Maximum Marks: 80 Instructions: * All question are compulsory. * Question Nos. 1 to 8 are very short an...

Here is the converted text of the images in a structured markdown format: # New Syllabus * Total No. of Question: 24 * Total No. of Printed Pages: 7 Subject: Economics Time: 3 hours Maximum Marks: 80 Instructions: * All question are compulsory. * Question Nos. 1 to 8 are very short answer type question. Each question carries 1 mark. * Question Nos. 9 to 12 are short answer type questions. Each question carries 3 marks. (Maximum word-limit of answer is 50 words) * Question Nos. 13 to 18 are long answer type questions. Each question has internal choice. Each question carries 4 marks. (Maximum word-limit of answer is 75 words) * Question Nos. 19 to 24 are long answer type questions. Each question has internal choice. Each question carries 6 marks. (Maximum word-limit of answer is 250 words) *** 1. What are Giffen Goods? \[1] 2. Which type of market is the gold and silver market? \[1] 3. What is optional money? \[1] 4. Which is the central bank of India? \[1] 5. Give two examples of direct tax. \[1] 6. What is a balanced budget? \[1] 7. What is meant by the balance of trade? \[1] 8. What is floating exchange rate? \[1] 9. What is total production? Write its formula. \[2+1=3] 10. Write three characteristics of imperfect competition. \[1+1+1=3] 11. Write the difference between excessive demand and deficit demand (any three). \[1+1+1=3] 12. Explain the relations of marginal consumption trend and saving trend. \[3] *** 13. Explain the mutual dependence of micro- and macro-economics. \[2+2=4] OR Explain the difference between real economics and ideal economics (any four). \[1+1+1+1=4] 14. How does the average fixed cost curve look like? Why does it look like this? \[2+2=4] OR How do long marginal cost and average cost curves look like? \[4] 15. Explain why all the last expenditure in an economy is equal to the total factor payment. \[4] OR Write some limits of GDP as the co-ordinate of the welfare of a country. 16. What is the alternative definition of currency supply in India? \[4] *** 17. Write the modern work of Commercial Banks (any four). \[1+1+1+1=4] OR Write the features of the budget (any four). \[1+1+1+1=4] OR Why the government budget is required (any four)? 18. Write measures to correct the imbalance in the balance of payments (any four). \[1+1+1+1=4] OR Argue in favor of a stable exchange rate (any four). 19. Explain the indifference curve with a diagram. \[6] OR If the income of the consumer increases from Rs. 20 to Rs. 40 but the price remains unchanged, then what changes are there in the budget line? 20. Explain the elements affecting demand (any six). \[6] *** 21. Explain the reasons why the rules of demand are applied (any six). OR Write the elements affecting supply (any six). \[6] OR What does elasticity of supply mean? How is it measured? \[2+4=6] 22. The question asks what happens when the prevailing price in the market is: (a) greater than equilibrium price; (b) less than equilibrium price? \[3+3=6] OR Explain the difference between normal price and market price (any six). \[6] 23. Write critiques of Keynes's employment theory (any six). \[6] OR Write the causes of excessive demand (any six). *** 24. Based on the following information, calculate Personal Income and Disposable Income: \[3+3=6] | Items | Rs. (in Crore) | | :------------------------------- | :------------- | | Net domestic product on factor cost | 8,000 | | External secured net factor income | 200 | | Undistributed profit | 1,000 | | Corporation tax | 500 | | Interest received by families | 1,500 | | Interest paid by families | 1,200 | | Transfer income | 300 | | Personal tax | 500 | *** OR Based on the following information, calculate National Income by expenditure method: \[6] | Items | Rs. (in Crore) | | :----------------------------- | :------------- | | Salaries and wages | 4,000 | | Rent | 700 | | Profit | 1,300 | | Interest | 500 | | Consumption expenditure | 4,000 | | Gross domestic investment | 1,500 | | Net foreign investment | 1,000 |