ECONOMICS (318)
Code No: 36/ISS/2 [Set-A]
Time 3 Hours Maximum Marks : 100
Note: (1) This Question Paper consists of two Part-A is from Core modules and Part-B from Optional modules.
(ii) Attempt all questions from Part-A and any one Option from Part-B.
(iii) Answer to questions carrying I mark should riot exceed one or two sentence(s), 2 marks should not exceed 30 words, 4 marks should not exceed 60 words and 8 marks should not exceed 120 words.
PART-A
1. When is a pie-diagram used? 1
2. What is meant by statistics in singular sense? 1
3. Define domestic product. 1
4. What is meant by total revenue? 1
5. Give the meaning of fiscal deficit. 1
6. What is cash reserve ratio? 1
7. What is the difference between economic growth and economic development? 2
8. State any two uses of index number. 2
9. What is the purpose of calculating national income at constant prices? 2
10. What will be the effect of increase in demand of a commodity on its equilibrium price and equilibrium quantity? 2
11. Give the meaning and two examples of capital receipts. 2
12. Giving reasons, categories the following into producer and consumer goods: 4
(a) Sewing machine purchased by a household
(b) Milk purchased by a restaurant
(c) Stationery purchased by a bank
(d) A pen purchased by a student
13. Calculate arithmetic average from the following data. 4
| Class | Frequency |
| 0-4 | 4 |
| 4-8 | 6 |
| 8-12 | 6 |
| 12-16 | 4 |
14. Calculate ‘gross national product at factor cost’ from the following data: 4
| Rs (in crores) | |
| (i) Value of output | 7,000 |
| (ii) Net indirect tax | 200 |
| (iii) Net domestic product at market price | 3,500 |
| (iv) Net factor income from abroad (v) Consumption of fixed capital | (-)100 300 |
15. Explain the following objectives of budgetary policy 4
(a.) Price stability
(b) Promoting economic growth
16. Complete the following table 4
| Output (units) | Total cost (Rs) | Total variable cost (Rs) | Marginal cost (Rs) |
| 0 | 12 | -- | -- |
| 1 | 20 | -- | -- |
| 2 | -- | 25 | -- |
| 3 | 30 | -- | -- |
| 4 | -- | 14 | -- |
17. Explain the role of `open market operations' in regulating the lending capacity of banks. 4
18. Explain the for major changes introduced in fiscal policy under economic reforms. 4
19. Explain the. problem of ‘for whom to produce’. 4
20. The following table shows the marks obtained by 20 students in an examination. Prepare (a) a frequency array and (b) a frequency distribution by inclusive method with class interval of 5 : 8
| Marks | Marks | Marks | Marks |
| 0 | 5 | 10 | 15 |
| 1 | 6 | 10 | 16 |
| 2 | 6 | 11 | 16 |
| 2 | 7 | 12 | 18 |
| 4 | 8 | 14 | 19 |
21. Explain the industrial classification of production units for estimating domestic product. 8
22. Explain the law of demand with the help of a demand schedule. Also explain any two exceptions to this law. 8
23. Explain any four main objectives of planning in India. 8
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