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After the tremendous success of our last year Important Questions Bank for Kerala Board (+2) Board Exam 2016 and Important Question Bank for Kerala Board (+2) HSE (HSC) Board Exam 2017 we have also created a list of Most Important Question Bank for Kerala Board (+2) HSE (HSC) Board Exam 2018 which are likely to appear in HSC Board Exams this year
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1. If the demand is curve is a rectangular hyperbola, elasticity is:
(c) Less than one
2. Define GDP deflator. During 2013 the nominal value of GDP in Indian was Rs. 7000/- crores. During the same year the GDP of the country evaluated at price of some base year was Rs. 6000/- crores. Find the value of GDP deflator of the year in percentage terms.
3.Explain the functions of RBI
4. Study the following table and answer the questions.
(a) Derive the aggregate demand schedule.
(b) Show graphically the components of aggregate demand.
5. Which of the following choose will be zero when production is stopped?
(a) Average fixed cost
(b) Total cost
(c) Fixed cost
(d) Variable cost
6. From the list of goods given below, find out the one which cannot be provided through market mechanism?
(a) Private goods
(b) Public goods
(c) Merit goods
(d) Club goods
7. Write down the equation of the budget line.
8. What is the slope of the budget line?
9. Who is known as the father of modern macro economics?
(a) Adam Smith
(b) Alfred Marshall
(c) J.M. Keynes
(d) J.B. say
10. Define price ceiling.
11. Write down two adverse impacts of price ceiling in the consumers.
12. If all the people of the economy increases the proportion of income they save, the aggregate savings in the economy will not increase. This phenomenon is known as
(a) Paradox of prosperity
(b) Paradox if thrift
(c) Leontief paradox
(d) Giffen paradox
13. A firm that maximizes profit under perfect competition will not produce an output where (a) P > MC and (b) < MC. If so, what is profit maximizing output condition in the short run? Briefly illustrate with diagram.
14. What is indifference curve?
15. The most important role of RBI is credit creation and control of money supply. Explain the instruments which RBI used for conducting monitory policy.
16. Which of the following is a transfer payment?
(d) Old age pension
17. In an economy, investment increases by 500 crores. If MPC is 0 5, what is increase in total income?
18. What monopolistic competition consists of ?
19. Define Fiscal deficit.
20. The point on the supply curve at which a firm earns normal profit is called:
(a) Normal profit
(b) Super normal profit
(c) Break-even point
(d) Shut-down point
21. Define value added method. A farmer produces 5 quintals of wheat, out of which he sells 3 quintals to a flour mixture and 1.5 quintals to consumers at the rate of 1000/- per quintals. He retains the balance of 0.5 quintals for self consumption. For wheat cultivation he spends 2000/- on account of purchasing seeds and fertilizers. Calculate value added by the farmer.
22. Which of the following describes Monopoly?
(a) Large numbers of butters
(b) Large numbers of sellers
(c) Only a single butter
(d) Only a single seller with complete control over industry.
23. What is open economy?
24. Follow information about a firm is given below:
|Units of Output Total cost||(Rs )|
From the given information estimate
(a) Total fixed cost
(b) Total variable cost
(c) Average cost
(d) Marginal cost
25. What is flexible exchange rate system?
26. Define fixed exchange rate system.
27. Explain managed floating rate system.
28. Under oligopoly the output decision of any one firm necessarily affects the process and quantity sold by other firms. Hence the rivals may react to protect the profit. List the three different ways in which oligopoly firms may behave.
29. Classify government regulations on auto emissions under the micro and macro economics.
30. Usually a budget line slopes downwards from left to right. State any three reasons for the downward slope of the budget line.
31. Define production possibilty curve.
32. When there was a 4% decrease in the rice of a good, the expenditure on the good increase by 2%. What can you say about the elasticity of demand?
33. Write down and explain the three identities of calculating the GDP of a country but the methods. Also explain why each of these should give us the same value of GDP.
34. Differentiate the terms short and long run.
35. Suppose you are visiting a commercial Bank as a part of your study. Prepare a field visit report by highlighting the important functions of a commercial Bank.
36. Explain why the demand curve facing a firm under monopolistic competition is negatively slipped.
37. MPC + MPS = ?
38. Assume that there is a perfectly competitive market for wheat. Can you state the important features of this market?
39. “If all the people of the economy increases the proportion of income they save the total value of savings in the economy will not increase—it will either decline other remain unchanged”. Explain. Also give the term used to refer this situation.
40. Find out the maximum possible output for a firm with zero (0) units of labour and 10 units of capital when production function is Q = 5 L + 2 K.
41. Suppose there is no money in our economy. Then how will the exchange of goods and services takes place? State important difficulties if a such a situation.
42. Distinguish between the terms stock and flow. Between net investment and capital which is stock and which is a flow?
43. Distinguish between the nominal exchange rate and real exchange rate.
44. Differentiate between devaluation and depreciation.
45. Short run MC and AC curves are U-shaped. Write down any three relationships between MC and AC.
46. Though Gross Domestic Product (GDP) is often used as an indicator of economic welfare, it is not a comprehensive indicator of welfare. Elaborate.
47. short run production functions are fixed proportion production functions'. Do you agree? Substantiate.
48. Diagrammatically illustrate the impact of price ceiling and price floor on market equilibrium.
49. Distinguish between perfect competition and monopolistic competition.
50. What are the conditions that are to be fulfilled for a firm to be in short run equilibrium under perfectly competitive market conditions?
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