HSC Maharashtra State Board


 Practice Test Paper

 

Sub: ECO (6, 7 & 8)                                                      Marks: 50 Marks

Time: 2Hrs                                                                    Date:

Q.1.A. Fill in the blanks with appropriate alternatives given in the brackets.                                                                                 [3 Marks]

A) Obligatory function of the Government:

a) Provisional of employment

b) Maintaining internal law and order

c) Welfare measures

d) Exporting goods and services

 

B) Statements related to limitation of index numbers:

a) Index numbers are not completely reliable

b) There may be a bias in the data collated

c) Every formula has some kind of defeat

d) Index numbers ignore changes in the quantities of products

Options; 1) a, c & d         2) a, b & d   3) b ,c & d   4) a, b ,c & d


C) GDP (FC) = GDP (MP) – __________

a) factor cost

b) Indirect taxes

c) Depreciation

d) Subsidy


Q.1.B.Match the following groups                                          [3 Marks]

Group A                                  Group B

 i) Fees and Fine                                a) Sum of P1Q1 / Sum of P0Q1 x 100

ii) Quantity Index                              b) Factor Cost Method

iii) Disposal Income                           c) Personal Income Subsidiary

                                                          d) Non-tax revenue

 

Q.1.C. Define or explain the following concepts: (Any 2)       [4 Marks]

1) Balanced Budget

2) National income

3) Laaspeyre’s Index


Q.2.A Distinguish between: (Any 2)                                       [4 Marks]

1) Simple Index Number and Weighted Index Number

2) Public Finance and Private Finance

3) Gross National Product and Net National Product

 Q.2.B. Write short notes on: (Any 2)                                      [8 Marks]

1) Value added approach

2) The GST has replaced almost all indirect taxes in India.

3) Calculate Laaspeyre’s and Paasche’s index number from the given data:

         

Commoditity

Base Year

 

Current Year

 

 

Price

Quantity

Price

Quantity

X

8

10

12

25

Y

10

42

20

16

Q.3 Answer the following questions: (Any 2)                         [8 Marks]

1) Explain the principles of taxation.

2) State the precautions while using expenditure method to measure national income.

3) Explain the significance of Index numbers in economics.

 Q.4 State with reasons whether you agree or disagree with the following statements:           (Any 2)                                                                 [6 Marks]

1) There are many conceptual or theoretical difficulties in the measurement of national income.

2) Democratic government do not lead to increase in public expenditure.

3) Index number measure changes in the price level only.

Q.5 Answer in detail: (Any 2)                                                 [10 Marks]

1) Explain various reason for the growth of public expenditure.

2) Explain the 'Final Good Approach' to avoid double counting of goods and services in the estimation of national income.

3) Explain the step involved in the construction of Index Number.

 

 

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