DISCLAIMER – Nishita ka kasam , no cheating , no seeing formulas, no referring to

old sums, start from fresh page and do , no negotiation allowed!!

4 marks – neat work and good handwriting
2 marks – for actually doing this
2 marks – cause I love you
Hence, total marks – 85 , if you get above 70, I have reward!!

NATIONAL INCOME (36marks)

1. From the following data, calculate GNPFC, NDPFC and national income: [6]
Item ₹ in crores
(i) Private final consumption expenditure 950
(ii) Gross domestic fixed capital formation 370
(iii) Consumption of fixed capital 20
(iv) Government final consumption expenditure 410
(v) Closing stock 300
(vi) Subsidy 80
(vii) Net exports (-)50
(viii) Wages and salaries 780
(ix) Net factor income from abroad (-)40
(x) Indirect tax 180
(xi) Opening stock 150
(xii) Profit before tax 200
2. From the following data, calculate National Income by Output method and
Income method: (6)

3. From the following data, calculate National Income by Income method and
Expenditure method: (6)

4. Calculate GNP at FC from the following data by using income method and
expenditure method (6):
5. From the following data, calculate GNPMP and National Income by using the
value-added method: (6)

6. From the following data, calculate GNPMP and NNPFC by Expenditure Method.(6)
 COST AND REVENUE, Demand & Supply (41 marks)
1.

2. The price of a commodity falls from Rs. 50 to Rs. 30, resulting in an increase in the
purchase of the commodity from 200 units to 220 units. Calculate the price elasticity of
demand.
 3. Complete the demand schedule for commodity X:

4. A cost function is given below:

Calculate:
(i) Total Fixed Cost
(ii) Total Variable Cost
(iii) Marginal Cost
5. Calculate the quantity demanded of a commodity when its price increases from ₹ 4 to
₹ 6. The original quantity demanded was 40 units and the price elasticity of demand is
0.5.

6. The cost function of a firm is given below:

Output 0 1 2 3 4

Total Cost(₹) 60 80 100 111 116

Find:
(i) Total Fixed Cost.
(ii) Total Variable Cost.
(iii) Average Fixed Cost.
(iv) Average Variable Cost.
(v) Marginal Cost.

7. Complete the following table and draw a supply curve for the firm A:
Price per Unit Supply by firm A Supply by firm B Market Supply

2 5 5 ?

3 ? 10 17

4 9 ? 24

5 11 20 ?

8. Write the full form and calculate MPC, MPS and APC from the following data:

Income (Y) Consumption

100 95

110 104

9. Study the cost function of a firm given below:

Calculate:
(i) AFC
(ii) AC
(iii) MC
10. The quantity demanded of a commodity at a price of ₹ 10 per unit is 40 units. Its
price elasticity of demand is -2. The price falls by ₹ 2 per unit. Calculate the quantity
demanded at the new price.

11. Find the elasticity of demand of x and y on the basis of the demand schedule given
below and specify which one is more elastic:

Good x Good y

Px(₹) Dx (units) Py(₹) Dy (units)

8 10 8 10

4 12 6 25
12. Fill the blank in the table given below:

No.of Workers T.P. A.P. M.P.

1 — 150 —

2 230 — —

3 — — 120

13.

14.

i) 210 units ii) 60 units