Commerce (English Medium)
Arts (English Medium)
Academic Year: 2023-2024
Date & Time: 18th March 2024, 10:30 am
Duration: 3h
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General Instructions:
Read the following instructions carefully and follow them:
- This question paper contains 34 questions. All questions are compulsory.
- This question paper contains two sections:
Section - A: Macro Economics
Section - B: Indian Economic Development - This paper contains 20 Multiple Choice Questions type questions. Each question carries 1 mark.
- This paper contains 4 Short Answer Questions Type-I questions. Each question carries 3 marks. Answer these questions in 60 to 80 words.
- This paper contains 6 Short Answer Questions Type-II questions. Each question carries 4 marks. Answer these questions in 80 to 100 words.
- This paper contains 4 Long Answer Type Questions. Each question carries 6 marks. Answer these questions in 100 to 150 words.
- Attempt all parts of a question together.
- In addition to this, NOTE that a separate question has been provided for Visually Impaired candidates in lieu of questions having visual inputs, Map ete. Such questions are to be attempted by Visually Impaired candidates only.
- There is no overall choice in the question paper. However, an internal choice has been provided in few questions. Only one of the choices in such questions has to be attempted.
Identify the incorrect feature(s) of the Money Supply in an economy, from the following:
- It is measured during a period of time.
- It includes stock of money held by the government of a nation.
- It always represents the currency held with Central Bank of the Nation.
(i) only
(ii) and (iii)
(i) and (ii)
(i), (ii) and (iii)
Chapter:
Assertion (A): Real Gross Domestic Product is a better indicator of economic growth of a nation as compared to Nominal Gross Domestic Product.
Reason (R): Real Gross Domestic Product measures the value of goods and services at current year prices.
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Chapter:
From the given table, identify that level of income where Average Propensity to Save (APS) becomes Zero.
| Income (₹ crore) | 0 | 50 | 100 | 200 | 300 | 400 |
| Consumption (₹ crore) | 50 | 75 | 100 | 150 | 200 | 250 |
50
100
200
0
Chapter:
Statement 1: Consumption and Savings are the components of National output of an economy.
Statement 2: Higher level of Income often leads to lower savings.
In the light of the given statements, choose the correct alternative from the following:
Statement 1 is true and Statement 2 is false.
Statement 1 is false and Statement 2 is true.
Both Statements 1 and 2 are true.
Both Statements 1 and 2 are false.
Chapter:
Arrange the following in the correct sequential order, if the government of a nation is trying to curtail the situation of inflationary gap:
- Decrease in disposable income
- Increase in taxes
- Decrease in Aggregate Demand
(i), (ii), (iii)
(iii), (ii), (i)
(ii), (iii), (i)
(ii), (i), (iii)
Chapter:
Assertion (A): Ceteris Paribus, Devaluation of domestic currency leads to an increase in National Income of a nation.
Reason (R): Devaluation of domestic currency refers to reduction in the value of domestic currency with respect to foreign currency, under the fixed exchange rate system.
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Chapter:
The Central Bank can reduce the Money Supply in economy by ______ the ______.
increasing, bank rate
decreasing, cash reserve ratio
decreasing, bank rate
buying, government securities
Chapter:
Identify, which of the following is not a source of demand for foreign exchange for Indian economy?
Import of goods and services.
Remittances by foreigners living in India to their families abroad.
Indian tourists visiting foreign countries.
Loans from Rest of the World (ROW).
Chapter:
If a straight line consumption function makes a positive intercept at the Y-axis, and it implies that the Marginal Propensity to Consume ______ and Average Propensity to Consume ______ as the level of income rises.
remains constant, rises
falls, falls
rises, rises
remains constant, falls
Chapter:
Under the ______ Exchange Rate System, the Central Bank can control the rise / fall of foreign exchange rate in a range bound manners.
fixed
flexible
managing floating
gold standard
Chapter:
State the meaning of autonomous items, under Balance of Payments of India, with the help of an example.
Chapter:
State the meaning of accommodating items under Balance of Payments of India, with the help of an example.
Chapter:
"Disposition Phase of circular flow of Income involves flow of factor Income, which comprises of rent, wages, interest and profits from firms to households."
Defend or refute the statement, giving valid reasons in support of your answer.
Chapter:
Estimate the value of Net National Product at Factor Cost (NNPFC), using the following information:
| S. No. | Items | Amount (in ₹ crores) |
| (i) | Household Consumption Expenditure | 1,200 |
| (ii) | Business Fixed Investment Expenditure | 800 |
| (iii) | Government Final Consumption Expenditure | 500 |
| (iv) | Excess of Imports over Exports | 100 |
| (v) | Net Indirect Taxes | 150 |
| (vi) | Change in Inventory | (−) 50 |
| (vii) | Consumption of fixed capital | 200 |
| (viii) | Net factor Income from Abroad | 80 |
| (ix) | Public fixed investment | 70 |
Chapter:
Elaborate the 'Banker's Bank and Supervisor' function of the Reserve Bank of India.
Chapter:
Suppose, the Indian Government decides to boost public investments with a defence project of ₹ 40,000 crore.
Explain the likely impacts of the given situation on the Income, Employment and Output of the economy, assuming all other factors constant.
Chapter:
Suppose an economy is in equilibrium. From the following data, calculate Investment Expenditure in the economy:
- National Income = ₹ 10,000 crore
- Marginal Propensity to Save (MPS) = 0.2
- Autonomous Consumption (`barc`) = ₹ 200 crore
Chapter:
"With the objective to correct deflation, Reserve Bank of India may decrease the Bank rate."
Discuss the rationale behind the step taken by the Reserve Bank of India (RBI).
Chapter:
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'Government Budget can be a useful instrument in reducing inequalities in the distribution of income and wealth in an economy.'
Do you agree with the given statement? Present valid arguments in favour of your answer.
Chapter:
What is primary deficit?
Chapter: [0.05] Government Budget and the Economy
With valid reason, classify the following into Capital receipt or Revenue receipt of the government:
Dividend received by the government from a Maharatan company.
Chapter:
With valid reason, classify the following into Capital receipt or Revenue receipt of the government:
Receipts of the government from sale of shares of a Public Sector Undertaking (PSU) in open market.
Chapter:
With valid reason, classify the following into Capital receipt or Revenue receipt of the government:
Debt cleared by Sri Lanka Government to the Indian Government.
Chapter:
State the steps pertaining to the estimation of National Income under the income method.
Chapter:
"In the past few decades, Indian economy has been fairly benefitted by positive externalities created by rapid rise in infrastructure."
Justify the given statement with valid arguments.
Chapter:
Identify, which of the following alternative indicates towards incorrect components combination of Agricultural Marketing System?
Assembling, Storage, Processing, Packaging
Production, Assembling, Processing, Grading
Assembling, Processing, Packaging, Transportation
Processing, Packaging, Grading, Distribution
Chapter:
Assertion (A): License Permit Raj was a major obstacle for growth of private sector.
Reason (R): Private sector wasted huge amount in obtaining licences, rather than on improving the product, quality and international competitiveness.
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Chapter:
Assertion (A): The developmental experiences of India and Pakistan have a lot of similarities.
Reason (R): Both India and Pakistan laid emphasis on creating a large private sector.
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Chapter:
______ farming is the system that restores, maintains and enhances the ecological balance.
Conventional
Chemical
Organic
Multi-layered
Chapter:
Economic reforms were introduced in the year ______ in India and in the year ______ in Pakistan.
1978, 1988
1988, 1978
1978, 1991
1991, 1988
Chapter:
Under the British Rule, commercialization of agriculture resulted in shifting of agricultural production from ______ crops to ______ crops.
Cash, Food
Cotton, Jute
Food, Cash
Jute, Food
Chapter:
Statement 1: China has used the market mechanism to create additional social and economic opportunities for its citizens.
Statement 2: In China, Social Infrastructure created by the government brought positive results in human development indicators.
In the light of the given statements, choose the correct alternative from the following:
Statement 1 is true and Statement 2 is false.
Statement 1 is false and Statement 2 is true.
Both Statement 1 and 2 are true.
Both Statement 1and 2 are false.
Chapter:
Statement 1: As per National Sample Survey Organisation (NSSO) unemployment is a situation in which all those who, owing to lack of work, are not working but seeking work from prospective employers, expressed their willingness to work under the prevailing condition of work and remuneration.
Statement 2: Disguised unemployment is generally a massive problem in the highly populated country like India.
In the light of the given statements, choose the correct alternative from the following:
Statement 1 is true and Statement 2 is false.
Statement 1 is false and Statement 2 is true.
Both Statement 1 and 2 are true.
Both Statement 1 and 2 are false.
Chapter:
In the decade of 1970's, Pakistan nationalised its ______ industry.
Medical infrastructure
Consumer goods
Capital goods
Foreign trade
Chapter:
Identify, which of the following is not a correct function of environment?
- Exclusion of waste
- Sustainance of life
- Provide aesthetic services
(i) only
(ii) only
(ii) & (iii)
(i) & (ii)
Chapter:
Discuss briefly the rational behind adopting 'modernization' as a planning objective for the Indian Economy.
Chapter:
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"Farm subsidies put a huge burden on the government finances, but are necessary for the poor and marginal farmers."
Justify the given statement.
Chapter:
Goals of Equity was fully served by 'abolition of the intermediaries' in agriculture in the post-independence period of India.
Do you agree with given statement? Support your answer with valid arguments.
Chapter:
"National Education Policy 2020 of India stresses a lot on in-service teachers training."
In the light of the given statement, state and explain any two advantages of such on-the-job trainings in upliftment of education sector of any nation.
Chapter:
Distinguish between ‘Green Revolution’ and ‘Golden Revolution’.
Chapter: [0.06] Rural Development
Elaborate how the economic reforms process of India impacted the agricultural sector.
Chapter:
Elaborate how the economic reforms process of India impacted the Industrial sector.
Chapter:
"Scholars find son preference as a common phenomenon in India, Pakistan, and China."
Justify the given statement in the light of skewed sex-ratio.
Chapter:
|
“We are One-Earth, One Family and we share One Future.” is the opening sentence of the G-20 New Delhi Leader's Declaration Statement.
The leaders commit to "taking collective actions for effective and timely implementation of the G-20 2023 Action Plan to accelerate progress on the SDG's; including through actions on eliminating hunger and malnutrition, strengthening global health and implementation of One Health approach, and delivering quality education." |
- State and discuss the importance of collective fight in achieving SDG's.
- Discuss briefly the action plan of G-20 leaders in promoting 'One Health' approach.
Chapter:
Elaborate the importance of credit in rural development.
Chapter:
‘India can transform itself knowledge-based economy by using information technology.'
Justify the given statement.
Chapter:
“It is necessary to generate employment in the formal sector rather than the informal sector.”
Justify the given statement with valid arguments.
Chapter:
Discuss any two measures initiated by the government to improve Agricultural marketing in India.
Chapter:
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