CBSE (Central Board of Secondary Education) Class-12 Economics: Questions 389 - 392 of 522

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Question 389

Describe in Detail Subjective▾

From the following data, calculate ‎ “national income” by (a) income method and (b) expenditure method:

calculate national income calculate national income by (a) income method and (b) expenditure method:

-(₹ in crores)
Interest150
Rent250
Government final consumption expenditure600
Private final consumption expenditure1200
Profits640
Compensation of employees1000
Net factor income to abroad30
Net indirect taxes60
Net exports(-) 40
Consumption of fixed capital50
Net domestic capital formation340
Edit

Explanation

(a) Income method

National income = Interest + Rent + Profits + Compensation of employees - Net factor income to abroad

= 150 + 250 + 640 + 1000 – 30

= Rs 2010 Crore

(b) Expenditure method:

National income = Government final consumption expenditure + Private final consumption expenditure + Net exports + Net domestic capital formation + Consumption of fi…

… (17 more words) …

Question 390

Describe in Detail Subjective▾

The ratio of elasticity of supply of commodities A and B is 1: 1.5. 20 percent fall in price of a results in a 40 percent fall in its supply. Calculate the percentage increase in supply of B if its price rises from ₹ 10 per unit to ₹ 11 per unit.

Edit

Explanation

Percentage change in price of commodity A = 20 per cent

Percentage change in supply of commodity A = 40 per cent

Thus, price elasticity of supply of commodity A is =

… (87 more words) …

Question 391

Statement True-False▾

The difference between average total cost and average variable cost is constant.

Choices

Choice (4)Response

a.

False

b.

True

c.

None of the above

d.

All of the above

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Question 392

Describe in Detail Subjective▾

In an economy S =-50 + 0.5 Y is the saving function (Where S = saving and Y = national income) and investment expenditure is 7000. Calculate:

(i) Equilibrium level of national income

(ii) Consumption expenditure at equilibrium level of national income.

Edit

Explanation

(I) Equilibrium level of national income

I = S

Y =

… (19 more equations) …