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The price of a good decreases from ₹100 to 80 per unit. If the price elasticity of demand for the good is 2 and the original quantity demanded is 30 units, calculate the new quantity demanded.
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Briefly discuss any two precautions to be taken while calculating national income by the Value Added method.
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Calculate GDPmp and NNPfc by Value Added method from the following data.
| PARTICULARS | (₹crores) | |
| (i) | Net value added at factor cost in the Primary sector | 6000 |
| (ii) | Net value added at factor cost in the Secondary sector | 4000 |
| (iii) | Net value added at factor cost in the Tertiary sector | 4500 |
| (iv) | Net Factor Income from Abroad | (-) 50 |
| (v) | Net Indirect taxes | 150 |
| (vi) | Intermediate consumption | 2500 |
| (vii) | Depreciation | 500 |
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Calculate National Income and operating Surplus from the following data:
| PARTICULARS | (₹crores) | |
| (i) | Government final consumption expenditure | 900 |
| (ii) | Net factor income from abroad | 210 |
| (iii) | Private final consumption expenditure | 1000 |
| (iv) | Net domestic capital formation | 300 |
| (v) | Profits | 320 |
| (vi) | Rent | 190 |
| (vii) | Net exports | (-) 75 |
| (viii) | Interest | 200 |
| (ix) | Net indirect taxes | 265 |
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Mention any one difference between Balance of Trade and Balance of Payment.
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Milk is used for making curd, sweets and chocolates.
What type of demand does milk have? Give a reason.
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Categorise the following item into Current Account or Capital Account of Balance of Payment of India.
Acquisition of land in India by an American firm
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Categorise the following item into Current Account or Capital Account of Balance of Payment of India.
Use of transport by Indian tourists in Dubai
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Categorise the following item into Current Account or Capital Account of Balance of Payment of India.
Dividend paid to foreigners on their investment in shares in India.
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Categorise the following item into Current Account or Capital Account of Balance of Payment of India.
Loan taken by India from International Monetary Fund (IMF) to cover its BOP deficit
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Briefly explain the effect of the following on the Balance of Payment of a country.
Inflationary pressure in the economy
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Briefly explain the effect of the following on the Balance of Payment of a country.
Appreciation in the domestic exchange rate.
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Calculate GNPMP and NNPFc from the following data by Expenditure Method.
| PARTICULARS | (₹ crores) | |
| (i) | Mixed income of self employed | 550 |
| (ii) | Private Final Consumption Expenditure | 1100 |
| (iii) | Net factor income from abroad | (-)120 |
| (iv) | Net indirect taxes | 250 |
| (v) | Consumption of fixed capital | 270 |
| (vi) | Net domestic capital formation | 480 |
| (vii) | Net exports | (-)130 |
| (viii) | Interest | 300 |
| (ix) | Government Final Consumption Expenditure | 650 |
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Read the passage given below and answer the questions that follow.
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The Monetary Policy Committee (MPC) increased the repo rate, at which the RBI lends short-term funds to commercial banks, from 6.25 percent to 6.50 percent. This increase in the repo rate is based on the increase in the key rate by 250 bps. The Committee also decided to continue the withdrawal of money supply in the economy. |
- Which function of the central bank is hinted at in the passage given above? (1)
- In which situation does central bank adopt the measure given in the above passage? (1)
- Explain any two monetary measures that can be used to accomplish a similar objective, other than the one given in the above passage. (4)
- Differentiate between Reserve Bank of India and Commercial banks by giving any two points. (2)
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Which one of the following statements is CORRECT with reference to government budget?
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If autonomous payments are higher than autonomous receipts, how can BOP be brought into balance?
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List different components of Balance of Payment on current account and capital account.
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With the help of a reason, explain why the following are included in calculation of National Income.
Goods supplied free of cost by the government.
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With the help of a reason, explain why the following are included in calculation of National Income.
Own account production
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Calculate GDPmp and NNPfc from the following data:
| Items | ₹ (in Crore) | |
| (i) | Wages & salaries | 170 |
| (ii) | Rent | 10 |
| (iii) | Interest | 20 |
| (iv) | Profits | 25 |
| (v) | Dividend | 12 |
| (vi) | Royalty | 5 |
| (vii) | Employer’s contribution to social security | 30 |
| (viii) | Net factor income from abroad | (-) 3 |
| (ix) | Consumption of fixed capital | 34 |
| (x) | Net indirect tax | 38 |
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