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HALF-YEARLY EXAMINATION
XII COMMERCE (2024-25)

MACRO ECONOMICS (40)

CHAPTER NAME MARKS

INTRODUCTION& CIRCULAR FLOW 4

MONEY & BANKING 6

BOP & FER 7

GOVT. BUDGET 8

DETERMINATION OF INCOME & EMPLOYMENT 7

PROBLEM OF AGGREGATE DEMAND & SUPPLY 8

INDIAN ECONOMIC DEVELOPMENT(40)

CHAPTER NAME MARKS

INDIAN ECONOMY ON THE EVE OF 8

INDEPENDENCE
INDIAN ECONOMY (1950-1990) 8

NEW ECONOMIC POLICY 1991 8

HUMAN CAPITAL FORMATION 8

RURAL DEVELOPMENT 8
 DELHI PUBLIC SCHOOL, ROORKEE
SAMPLE PAPER 2024-25 M.M. 80
TIME: 03 Hrs. XII-ECONOMICS ROLL NO. ___

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 type questions of 1 mark
each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each
to be answered in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each
to be answered in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each
to be answered in 100 to 150 words.
OTHER INSTRUCTIONS
 Try not to attempt the answers in big paragraphs.
 Think of the good points first, make a flow chart or something related and
then explain those points; especially in theoretical answers.
 Make use of diagrams wherever you can. Label them properly and use pencil
to draw them. Always explain the diagram.
 Practice writing the answers and sample papers using the timer for the
duration of the paper.

SECTION A – MACRO ECONOMICS

1. If you are given the following data,
i. Total exports of merchandise ₹ 1,000 crore
ii. Total imports of merchandise ₹ 1,200 crore
iii. Total exports of invisibles ₹ 100 crore
iv. Total imports of invisibles ₹ 100 crore
the capital account must have

a) a credit balance of ₹ 300 crore

b) a credit balance of ₹ 200 crore
c) a debit balance of ₹ 200 crore
d) a debit balance of ₹ 100 crore
2. What type of loan is advanced by Commercial Banks?
a) Loan and Advance
b) All of these
c) Cash Credit
d) Overdraft
3. The investment demand function is:
 a) The relationship between investment demand and the National income
b) The relationship between investment demand and the rate of interest
c) The relationship between investment demand and the consumption
expenditure
d) The relationship between investment demand and disposable income
4. Which of the following statements is associated with general equilibrium
analysis?
a) Equilibrium across all markets in the economy
b) None of these
c) Equilibrium in the market of gold ornaments
d) Equilibrium price of a good in the competitive market

5. What is MPC or the marginal propensity to consume?

a) none of these
b) the proportion of total additional income to total additional planned savings
c) the proportion of total additional planned savings to total additional income
d) the fraction of total additional income that is used for consumption
OR

Average Propensity to Consume is equal to

a) Change in Consumption Change in Income (ΔCΔY) Change in

Consumption Change in Income (ΔCΔY)
b) Change in Income Change in Consumption (ΔYΔC) Change in
Income Change in Consumption (ΔYΔC)
c) Income Consumption (YC) Income Consumption (YC)
d) Consumption Income (CY) Consumption Income (CY)
5. Aggregate demand can be increased by ________
a) Increase CRR
b) Increase in bank rate
c) None of these
d) Selling govt. securities by RBI
6. The investment multiplier is the ratio of
a) Change in the income to the change in the investment
b) Change in the consumption to the change in the investment
c) Change in the income to the change in the consumption
d) Change in the investment to the change in the income
7. Final balance of payments of a country is:
a) Always balanced b) Fluctuates
c) Always deficit d) Always surplus
OR

Which of the following is not included in the capital account balance?

a) Flow of gold b) Flow of banking capital
c) Loans d) Gifts and donations
8. Assertion (A): Money supply does not include money held by Government and
Commercial Banks.
 Reason (R): Government and Commercial Banks are themselves the supplier of
money.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
9. Assertion (A): Allocation of resources in the area of international trade tends
to become optimum.
Reason (R): Flexible exchange rate system enhances efficiency in resource
allocation.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
10. Whenever the central bank offers securities in the open market, the credit
creation capability of the banking industry is expected to-
a) fall b) rise c) no effect d) may rise or fall

11. The value of imports of goods of India is RS.200 crore and value of exports of
goods is Rs.250 crore. Whereas the value of imports of goods of USA is Rs.100 crore
and value of exports of goods is Rs.19000 crore. Which countrys Balance of trade is
positive?
OR

Suppose the exchange rate between the Rupee and the dollar was Rs. 30 = 1 USD in
the year 2010. Suppose the prices have doubled in India over 20 years while they have
remained fixed in USA. What, according to the purchasing power parity theory will be
the exchange rate between dollar and rupee in the year 2030.

12. Distinguish between the inflationary gap and deflationary gap. State two measures
by which these can be corrected.
13. Explain the role of Bank rate in influencing the availability of credit in an economy.
Explain the role of reverse repo rate in controlling money supply.
OR
Elaborate, how does a Central Bank stabilize money supply through Bank Rate.
14. Answer questions (i) & (ii) OR questions (iii) & (iv).
(i) Categorise the following government receipts into revenue and capital
receipts. Give reasons for your answer.
a. Receipts from sale of shares of a public sector undertaking.
b. Borrowings from public.
c. Profits of public sector undertakings.
d. Income tax received by government.
(ii)
a. Define Revenue Expenditure.
b. Distinguish between Direct tax and Indirect tax. How is cess levied?
(iii) What do you understand by G.S.T? How good is the system of G.S.T as compared to
the old tax system? State its categories.
(iv) What is disinvestment? Does it refer to revenue receipt or capital receipt of
 the government? Give an example.
15. In an economy, the ratio of MPC and MPS is 7:3. How much increase in income will
increase the consumption by Rs 350 crores?
16. If in an economy: (a) Consumption function is given by C = 100 + 0.75 Y, and (b)
Autonomous Investment is 150 crores.
Estimate (I) Equilibrium level of Income and (ii) Consumption and Savings at the
equilibrium Level of Income.
17. What is transaction demand for money? How is it related to the value of transactions
over a specified period of time?

SECTION B – INDIAN ECONOMIC DEVELOPMENT

18. Unemployment is defined as:
a) The section of population willing to work but unable to find employment
b) The section of population that is waiting to be employed
c) The section of the population that is not capable of being employed
d) The section of population that are without the skills needed by employers
19. Identify the statement which is not true:
i. Under Five Year Plans, the government actively participated in economic
activities.
ii. Growth with equity was the objective of Five Year Plans.
iii. The private sector was given an important role during Five Year Plans.
iv. The public sector was given a leading role in industrial development.
a) Only B
b) Only D
c) Only A
d) Only C
OR

Which statement is false regarding economic planning?

a) It is concerned with whole of economic life of a country
b) It is the purposive adoption of resources to social ends
c) It is a path of action in terms of policy measures which were followed in
the past
d) It is an organised efforts to achieve objective within fixed framework
20. Land reforms were successful in the following states
a) West Bengal and Karnataka
b) Tamil Nadu and Kerala
c) Kerala and west Bengal
d) Punjab and Kerala
OR
Marketed surplus refers to the
i. Portion of agricultural produce which is sold in the market by the farmers
ii. Portion of agricultural product which is sold by the government in the market
iii. Earning of the farmers which is left with the farmers
iv. Portion of agricultural product which is left with the farmer after selling in
the market
a) Option (ii)
b) Option (iv)
 c) Option (iii)
d) Option (i)

21. Which of the following is false regarding NABARD?

A. Maintain a research and development fund to promote research in
agriculture
B. It helps the flow of credit through co-operative banks, RRB’s etc
C. It performs all the functions of RBI with regards to agriculture credit
D. It helps farmers directly
a) Only B
b) Only C
c) Only A
d) Only D

22. Match the following. Options are given below:

a. Tariff barriers i. Imposed on the amount of imports and exports

b. Non-tariff
ii. Imposed on imports to make them costly
barriers

iii. Equity is offered to investors through domestic public

c. Minority sale
issue

a)

a. (iii)
b. (i)
c. (ii)
b)

a. (i)
b. (ii)
c. (iii)
c)

a. (ii)
b. (i)
c. (iii)
d)

a. (ii)
b. (iii)
c. (i)
23. What was the average youth literacy rate in 2015?
a) 88%
b) 95.5%
 c) 89.5%
d) 74%
24. Industrial Policy Resolution of 1956 to classify the industries in the category
was adopted to
a) To protect the domestic industry
b) To increase the role of public sector
c) All of these
d) To promote regional equality
25. Which of the following is a consequence of ozone layer depletion?
a) Hampers growth of terrestrial plants
b) All of these
c) Lower production of phytoplankton
d) Skin cancer in humans
OR
Which of the following is a cause of Ozone depletion?
a) Water Pollution
b) Air Pollution
c) Noise Pollution
d) None of these
26. Assertion (A): The French traveler, Bernier, described Bengal as richer than
Egypt producing amply for self-consumption and exporting in abundance.
Reason (R): Prosperity and stability were the key characteristics of life in
rural India.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
27. Assertion (A): The economic divide in the gulf between rich and poor farmers
has substantially risen over time.
Reason (R): A big push of investment needs to be given to Indian agriculture
to raise productivity levels at par with the advanced nations.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
28. Bring out the difference between Physical Capital, Human Capital & Human
Development
29. You are residing in a village. If you are asked to advise the village panchayat,
what kinds of activities would you suggest for the improvement of your village which
would also generate employment?
OR
In India, the self-employed constitutes about 60% of employees. The incidence
of underemployment is the highest among the self-employed. As an economist,
suggest measures that may be taken to ensure more productive employment for
the self-employed.
30. Comment on the growth rate trends witnessed in China and India in the
two decades with the help of table given below.
 GDP% India China

1991-2000 5.7 10.4

2001-2005 6.3 9.5

2017-2018 6.7 6.4

31. Answer the following-

a) What was the limit of automatic approval for direct foreign investment?
b) What do you understand by devaluation of rupee?
c). India has certain advantages which makes it a favourite outsourcing destination.
What are these
advantages?
32. State whether the following statements are true/false, with valid arguments:
a) Expenditure on acquiring information is also a source of human capital.
a) True
b) False
b) Gains of migration are lesser than the costs of migration.
a) True
b) False
33. Explain the various measures that were taken as part of Liberalisation process
in the New Economic Policy of 1991

34. What is a plan? Why Planning Commission was established? Give reasons.