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Exam No
Revision Test-2021-22
Class: 12 Economics Time:3.00
Marks:90
Part – I
I. Choose the best answer 20 x 1 = 20
1. Who coined the word Macro?
a) Adam Smith b) JM.Keynes c) Ragnar Frish d) Karl Marks
2.The country following Capitalism is ………..
a) Russia b) America c) India d) China
3. Primary sector is ………….
a)Industry b) Trade c) Agriculture d) Construction
4. GNP= ………… + Net factor of income from abroad
a) NNP b) NDP c) GDP d) Personal Income
5. In disguised unemployment,the marginal productivity of labour is …….
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a) Zero b) One c) Two d) Positive
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6.According to classical theory,rate of interest is reward for --------------
a) Investment b) Demand c) Capital d) Saving
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7. The sum of the MPC and MPS is ---------------
a) 1 b) 2 c) 0.1 d) 1.1
8.The RBI Headquarter is located at ----------
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a)Delhi b) Chennai c) Mumbai d) Bengaluru
9. During inflation,who are the gainers?
a) Debtors b) Creditors c) Wage and salary earners d) Government
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10.NABARD was set up in -----------
a) July 1962 b) July 1972 c) July 1982 d) July 1992
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11. Monitary Policy is formulated by----------
a)Co-operative banks b) Commercial bank c) Central bank d) Foreign bank
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12. Net export equals-----------
a) Export x Import b) Export + Import c) Export - Import d) Export x Import
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13. Which of the following country is not a member of SAARC?
a) Sri Lanka b) Japan c) Bangladesh d) Afganistan
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14. The Tenth BRICS summit was held in July 2018 at
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a) Beijing b) Moscow c) Johannesburg d) Brasilia
15. GST is equivalence of
a) Sales tax b) Corporation tax c) Income tax d) Local tax
16.The word biotic means environment
a) living b) non-living c) physical d) None of the above
17. Electronics waste is commonly referred as------------
a) Solid waste b) Composite waste c) e-waste d) Hospital waste
18.M.N.Roy was associated with-----------
a) Congress Plan b) People’s Plan c) Bombay Plan d) None of the above
19. Who wrote the book ‘The Road to Serfdom’?
a)Friedrich Hayek b) H.R.Hicks c) David Ricardo d) T.R.Malthus
20. Econometric is t6he word coined by
a) Francis Galton b) RagnarFrish c) Karl Person d) Spearsman
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Part - II
II. Answer any seven of the following.Q.n.30 is compulsory 7X2=14.
21. ‘Circular Flow of Income’ – Define.
22. Define GDP deflator.
23 .What is the main feature of rural unemployment?
24. Define Inflation.
25. Define Central Bank
26. What is meant by Exchange Rate?
27 .Write the meaning of Special Drawing Rights..
28. Define Global Warming.
29. What are the kinds of data?
30. Write a short note on NITI Aayog.
Part-III
III. Answer any seven of the following.Q.n.40 is compulsory 7X3=21.
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31. Indicate the demerits of socialism
32. Give short note on Expenditure Method.
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33. Write the following the short:
i) Seasonal Unemployment ii) Frictional Unemployment
iii) Educated Unemployment
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34. Differentiate autonomous and induced investment.
35. Explain Demand-pull and Cost push inflation.
36. Bring out the methods of credit control.
37. State briefly the functions of SAARC.
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38. What are the causes of water pollution?
39. Find the Standard Deviation of the following data: 14, 22, 9, 15, 20, 17, 12, 11
40. What are the functions of a modern state?
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Part – IV
IV. Answer all the Questions. 7x5=35
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41. Compare the feature among Capitalism, Secularism and Mixedism. (or)
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Discuss the various methods of estimating the national income of a country.
42.Describe the types of unemployment (or)
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Explain the operation of the Accelerator.
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43. Illustrate Fisher’s Quantity theory of money. (or)
Elucidate the functions of Commercial Banks.
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44. Explain the role of Commercial Banks in economic development.(or)
Explain the relationship between Foreign Direct Investment and Economic Development.
45. Discuss the role of WTO in India’s socio economic development. (or)
What are the reasons for the recent growth in public expenditure?
46. Describe different types of Planning. (or)
Explain the importance of sustainable development and its goals.
47. Describe the phases of Trade Cycle. (or)
Bring out the arguments against planning.
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