SAMPLE QUESTION PAPER (2023-24)
ECONOMICS (030) CLASS XII
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions of 1 mark each.
3. This paper contains 4 Short Answer Questions of 3 marks each to be answered in 60 to 80
words.
4. This paper contains 6 Short Answer Questions of 4 marks each to be answered in 80 to 100
words.
5. This paper contains 4 Long Answer Questions of 6 marks each to be answered in 100 to 150
words.
Q.NO. MARKS
SECTION A – MACRO ECONOMICS
1 Read the following statements carefully:
Statement 1: Consumption function assumes that, consumption changes at a constant rate as
income changes.
Statement 2: Autonomous consumption is the ratio of total consumption (C) to total income
(Y).
In light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and Statement 2 is false.
b) Statement 1 is false and Statement 2 is true.
c) Both Statements 1 and 2 are true.
d) Both Statements 1 and 2 are false. 1
2 For a closed economy (with no foreign trade), which one of the following is correct?
a) GDP = GNP b) GDP > GNP
c) GDP < GNP d) GDP + GNP=0 1
3 The value of __________ can be greater than one.
(Choose the correct alternative to fill up the blank)
a) Marginal Propensity to Consume b) Average Propensity to Consume
c) Marginal Propensity to Save d) Average Propensity to Save 1
4 As per the Reserve Bank of India (RBI) press report, dated 29th December, 2022:
"Net external commercial borrowings to India recorded an outflow of US$ 0.4 billion in the
second quarter (2022-23)"
The above transaction will be recorded in the _______ account on ______ side of
Balance of payments account of India. (Choose the correct alternative to fill up the blanks)
a) current, credit b) current, debit
c) capital, credit d) capital, debit 1
1
, 5 “The value of all goods and services can be expressed in monetary units.”
On the basis of the given statement, identify the function performed by money:
a) Medium of exchange b) Store of Value
c) Unit of account d) Means of standard of deferred payments 1
6 Find the missing figures and choose the correct alternative:
Round Deposits Loans (80%) Reserve Ratio (20%)
I 1,000 800 200
II 800 ….(i)…. 160
.. .. ..
.. .. ..
Total …(ii)… …(iii)… …(iv)…
Alternatives:
a) 640,1000,4000,5000 b) 960,5000,4000,1000
c) 640,4000,1000,5000 d) 640,5000,4000,1000 1
7 Graphically, Aggregate Demand function can be obtained by vertically adding the
_________ and _________ function.(Choose the correct alternative to fill up the blanks)
a) consumption, saving
b) consumption, investment
c) investment, saving
d) aggregate supply, consumption 1
8 Identify the correct reason(s) that may affect the demand for foreign exchange in an
economy.
I. Imports of visibles
II. Exports of invisibles
III. Remittances by residents working abroad
IV. Purchase of assets abroad
Alternatives:
a) I and II b) II and III
c) III and IV d) I and IV 1
9 Suppose for a given economy,
S= -60 + 0.1Y
I= ₹ 4,000 crore
(Where S = Saving Function, Y = National Income and I = Investment Expenditure)
Equilibrium level of Income would be ₹ ______ crore.
(Choose the correct alternative to fill up the blank)
2
ECONOMICS (030) CLASS XII
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions of 1 mark each.
3. This paper contains 4 Short Answer Questions of 3 marks each to be answered in 60 to 80
words.
4. This paper contains 6 Short Answer Questions of 4 marks each to be answered in 80 to 100
words.
5. This paper contains 4 Long Answer Questions of 6 marks each to be answered in 100 to 150
words.
Q.NO. MARKS
SECTION A – MACRO ECONOMICS
1 Read the following statements carefully:
Statement 1: Consumption function assumes that, consumption changes at a constant rate as
income changes.
Statement 2: Autonomous consumption is the ratio of total consumption (C) to total income
(Y).
In light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and Statement 2 is false.
b) Statement 1 is false and Statement 2 is true.
c) Both Statements 1 and 2 are true.
d) Both Statements 1 and 2 are false. 1
2 For a closed economy (with no foreign trade), which one of the following is correct?
a) GDP = GNP b) GDP > GNP
c) GDP < GNP d) GDP + GNP=0 1
3 The value of __________ can be greater than one.
(Choose the correct alternative to fill up the blank)
a) Marginal Propensity to Consume b) Average Propensity to Consume
c) Marginal Propensity to Save d) Average Propensity to Save 1
4 As per the Reserve Bank of India (RBI) press report, dated 29th December, 2022:
"Net external commercial borrowings to India recorded an outflow of US$ 0.4 billion in the
second quarter (2022-23)"
The above transaction will be recorded in the _______ account on ______ side of
Balance of payments account of India. (Choose the correct alternative to fill up the blanks)
a) current, credit b) current, debit
c) capital, credit d) capital, debit 1
1
, 5 “The value of all goods and services can be expressed in monetary units.”
On the basis of the given statement, identify the function performed by money:
a) Medium of exchange b) Store of Value
c) Unit of account d) Means of standard of deferred payments 1
6 Find the missing figures and choose the correct alternative:
Round Deposits Loans (80%) Reserve Ratio (20%)
I 1,000 800 200
II 800 ….(i)…. 160
.. .. ..
.. .. ..
Total …(ii)… …(iii)… …(iv)…
Alternatives:
a) 640,1000,4000,5000 b) 960,5000,4000,1000
c) 640,4000,1000,5000 d) 640,5000,4000,1000 1
7 Graphically, Aggregate Demand function can be obtained by vertically adding the
_________ and _________ function.(Choose the correct alternative to fill up the blanks)
a) consumption, saving
b) consumption, investment
c) investment, saving
d) aggregate supply, consumption 1
8 Identify the correct reason(s) that may affect the demand for foreign exchange in an
economy.
I. Imports of visibles
II. Exports of invisibles
III. Remittances by residents working abroad
IV. Purchase of assets abroad
Alternatives:
a) I and II b) II and III
c) III and IV d) I and IV 1
9 Suppose for a given economy,
S= -60 + 0.1Y
I= ₹ 4,000 crore
(Where S = Saving Function, Y = National Income and I = Investment Expenditure)
Equilibrium level of Income would be ₹ ______ crore.
(Choose the correct alternative to fill up the blank)
2
