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MS 12 Eco PB 2023-24 Set 2
MS 12 Eco PB 2023-24 Set 2
CLASS- XII
TIME : 3Hrs SUBJECT : ECONOMICS (030) MM- 80
Marking Scheme
SECTION- A [MACRO ECONOMICS)
Q.1 (C). A-ii, B-iv, C-iii, D-i 1
Q.2 (B) Lack of double coincidence of wants. 1
Q.3 (C) Assertion is true but Reason is false 1
Q.4 (D) Assertion is false but Reason is true. 1
Q.5 D). 288 1
[OR]
(C). (A)and (B) Both.
[OR]
A Operating Surplus refers to the income that is received from property and
entrepreneurship.
OS = Rent and Royalty + Interest + Profit
B Normal Resident may be an individual or an institution that residing in a
country and whose centre of economic interest also lie in that country.
C Domestic Territory refers to the political territory including with embassies,
military establishment, production platforms in international water, and ship
and aircraft operated in abroad of a country.
Q.13 Autonomous items Accommodating items 4
Autonomous items refer to those Accommodating items refer to those
economic transactions that are economic transactions that are
undertaken due to some economic undertaken due to cover deficit or
profit. surplus in BoP.
Autonomous transactions are Accommodating trans actions are
independent from state of BoP. dependent on state of BoP.
Autonomous transactions take Accommodating transactions take place
place on both current and capital on official reserve account.
account.
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Autonomous items are also known Accommodating items are also known as
as “Above the Line items”. “Below the Line items”.
Autonomous items Accommodating items
Autonomous items refer to those Accommodating items refer to those
economic transactions that are economic transactions that are
undertaken due to some economic undertaken due to cover deficit or
profit. surplus in BoP.
Autonomous transactions are Accommodating trans actions are
independent from state of BoP. dependent on state of BoP.
Autonomous transactions take Accommodating transactions take place
place on both current and capital on official reserve account.
account.
Autonomous items are also known Accommodating items are also known as
as “Above the Line items”. “Below the Line items”.
14 Explaination required 4
AS A WHOLE
Q.15 2+2
OR
Given
Y=10000, autonomous Consumption = 2000, MPS = 0.25 ( So MPC will
be = 0.75)
As we Equilibrium situation will be :AD=AS
(where AS = Y and AD= C+I)
So putting the given values
Y= C+I (where C = Ca+bY)
Ca + bY + I = Y
2000 + (0.75x10000) + I = 10000
9500 + I = 10000
I = 500
a) Decrease in Taxes - To curb the deflationary gap the government may 4+2
decrease the taxes. This may increase the purchasing power in the hands
of the people which in turn may increase the Aggregate Demand in the
economy to bring it equal to the Aggregate Supply. (1 ½)
C. Expenditure Method :
GDP = PFCE +GFCE + Investment Expenditure + Net Export.
The value of GDP remains same in each method due to Circular Flow of National
income.
[OR]
As known
NFIA = FIFA – FITA
So
GNP = COE + Rent + Interest + Profit + Dep. + NFIA
fc
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FIFA = 130
= 6150 – 100
NNP = 6050
fc
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Q.31 . Co-operative Credit Societies are financial entities established on a cooperative 4
basis and, do banking functions with their members only. Customers of
cooperative Societies are also its owners. These societies provide a wide range
of regular banking and financial services to their members only.
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