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GNP(fc) = GNP(mp) - ______.
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With reference to money, which one of the following statements is correct?
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Read the passage given below and answer the questions that follow.
| A change in the rupee-dollar exchange rate represents a change in the external value of the rupee. The value of the rupee, in terms of the dollar, has been falling continuously over a period of time. Since the rupee-dollar exchange rate is determined by the demand for and supply of dollars, it is possible that the value of the rupee will slide further if appropriate measures are not taken. The Reserve Bank of India, in charge of both the internal and external value of the rupee, has repeatedly emphasised maintaining stability in the foreign exchange market. |
- What kind of exchange rate system is being referred to in the passage?
- The value of the rupee, in terms of the dollar, has been falling continuously over a period of time.” Give the economic term for this phenomenon.
- How would this phenomenon affect balance of payments?
- Explain the role of the Reserve Bank of India as custodian of foreign exchange.
- Suggest any two measures to correct adverse balance payments.
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State whether the following items will be included in the estimation of National Income or not? Give a reason for your answer.
Fresh tomatoes used by a food processing company.
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Calculate GNPmp using Income method and Expenditure method from the following data:
| Items | ₹ (in Crore) | |
| (i) | Private final consumption expenditure | 800 |
| (ii) | Net exports | 20 |
| (iii) | Rent | 40 |
| (iv) | Interest | 60 |
| (v) | Government final consumption expenditure | 200 |
| (vi) | Profit | 120 |
| (vii) | Net domestic capital formation | 100 |
| (viii) | Compensation of employees | 800 |
| (ix) | Net indirect taxes | 100 |
| (x) | Consumption of fixed capital | 20 |
| (xi) | Net factor income from abroad | (−) 30 |
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Discuss any four factors affecting price elasticity of demand.
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Answer the following question.
What is meant by production function?
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Answer the following question.
Explain discounting bills of exchange as one of the functions of the banks.
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Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
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Answer the following question.
Draw diagrams to show the elasticity of demand when it is:
(i) Greater than one
(ii) Less than one
(iii) Unity
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Answer the following question.
Show with the help of diagrams, the effect on equilibrium price and quantity when:
There is a fall in the price of substitute goods.
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Answer the following question.
Discuss the various components of the current account of the balance of payment.
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Answer the following question.
With the help of a diagram, show the circular flow of income in a two-sector model with Savings and Investment.
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Answer the following question.
Show with the help of diagrams, the effect on equilibrium price and quantity when:
There is a rise in the prices of inputs.
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Explain any four exceptions to the law of supply
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Medium of exchange and measure of value is ______.
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Briefly explain two reasons for the adverse Balance of Payments in any economy.
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Draw a well labelled diagram of two sector model of a circular flow of income including the financial sector.
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The figure given below shows the relation between the quantity demanded for the good X and the price of the good Z. What type of goods are X and Z?
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Rate of interest on savings account is more than that on recurring account.
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