Solved papers for 12th Class Economics Solved Paper - Economics 2013 Outside Delhi Set-II

done Solved Paper - Economics 2013 Outside Delhi Set-II Total Questions - 7

• question_answer1) Give one reason for 'decrease' in supply of a commodity.
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• question_answer2) The price elasticity of supply of a commodity is 2.0. A firm supplies 200 units of it at a price of Rs. 8 per unit. At what price will it supply 250 units?
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• question_answer3) When the price of a commodity falls by 20 per cent, its demand rises from 400 units to 500 units. Calculate its price elasticity of demand.
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• question_answer4) Distinguish between revenue expenditure and capital expenditure in government Budget. Give an example of each.
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• question_answer5) How does central bank control credit creation by commercial banks through open market operations? Explain.
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• question_answer6) Distinguish between inflationary gap and deflationary gap. State two measures by which these can be corrected.
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• question_answer7) In an economy C = 200 + 0.75 Y is the consumption function where C is consumption expenditure and Y is national income. Investment expenditure is 4,000. Calculate equilibrium level of income and consumption expenditure.
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