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School/+2

Economics Class - XII 1998 (CBSE)
You are on questions 1 to 18 of Set I

Time allowed :3 hours
Maximum Marks: 100


Note:
(i) All questions are compulsory.
(ii) Marks allotted to each question are indicated against it.
(iii) Question numbers 1-14 and 19-22 are very short-answer questions.They should be answered in one sentence each.
(iv) Question numbers 5-6 and 23-24 are very short-answer questions.Answer to these should not normally exceed 30 words each.
(v) Question numbers 7-15 and 25-33 are short-answer questions.Answer to these should not normally exceed 60 words each.
(vi) Question numbers 16-18 and 34-36 are very long-answer questions.Answer to these should not normally exceed 100 words each.
(vii) The word limit is not applicable to numerical questions.


Section A


Q 1 When will the rate of increase in real national income of a country not lead to the same rate of increase in the real per - capita income ? (1 mark)


Q 2 Name the two consuming sectors in the domestic economy. (1 mark)


Q 3 Define 'gross value added'. (1 mark)


Q 4 Why do exports form a part of national income? (1 mark)


Q 5 Why are the following not included in national income? (2 marks)


Q 6 Distinguish between domestic factor income and national income.
(2 marks)


Q 7 How is domestic territory of a country different from its political frontiers? (3 marks)


Q 8 Explain with the help of an example, the economic interdependence of enterprises in modern economics. (3 marks)


Q 9 State the three components of change in stocks at domestic level.
(1+2 marks)


Q 10. Do sale and purchase of second-hand physical assets affect domestic fixed capital formation? Explain. ( 3 marks)


Q 11 Explain the component of net factor income from abroad. (2+1 marks)


Q 12. Calculate operating surplus from the following data :

 
(Rs. in Lakhs)
i) Net value added at factor cost
ii) Consumption of fixed capital 15
iii) Compensation of employees 80
iv) Net Indirect taxes 10
v) Employees' contribution to social security 5
300
15
80
10
5
( 3 marks)


Q 13 Explain the basis of clarifying the producing enterprises of an economy into primary, secondary and teetiany sectors. (3 marks)


Q 14. Calculate gross national product at market price from the following data; ( 2+1 mark)

  (Rs. in lakhs)
(i) Consumption of fixed capital
(ii) Value of output in primary sector
(iii) Value of output in secondary sector
(iv) Gross value added at market price in the teetiary sector
(v) Net Exports
(vi) Value of intermediate consumption in;
a) Primary sector
b) Secondary sector
c) teetiary sector
(vii) Net indirect taxes
(viii) Net factor income from abroad
10
100
150
150
(-)5

40
50
60
10
(-)5


Q 15. Estimate national income from the following data - (Rs. in crore)
( 3 mark)



(i) Wages and salaries
(ii) Employers' contribution to social security
schemes
(iii) Value of free medical facilities to employees
(iv) Bonus
(v) Employees' subscription to provident fund

(Rs. In lakhs)

350

40
60
35
30


Q 16. How is the prirate final consumption expenditure measured?
 (5 marks)


Q 17. Explain the income method of calculating national income.


Q 17 From the following data calculate:

(a) Gross domestic product at market price by income method, and
(b) Net national product at factor cost by expenditure method. ( 2+3 marks)



(i)Government final consumption expenditure
(ii)Interest, rent and profits
(iii)Royalties
(iv)Gross capital formation
(v)Net Exports
(vi)Change in stocks
(vii)Net factor Income from abroad
(viiiSubsidies
(ix)Private final consumption expenditure
(x)Indirect taxes
(xi)Consumption of fixed capital
(xii)Mixed income of self-employed
(xiii)Compensation of employees

(Rs. In crores)

100
900
20
620
(-)10
100
(-)10
20
800
120
60
60
370


Q 18. Which organisation estimates the national income in India? Name the subsectors of the Indian economy for which income method is used for estimating their contribution to the domestic product. (1+4 marks)

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