National Income Accounting — Economics STD 12 Humanities & Commerce — Question

The _______ distance between TVC and TC is ________.

1. Vertical, TFC.
2. Horizontal, TFC.
3. Horizontal, AFC.
4. Vertical, AFC.

Which of the following is not the feature of an imperfect competition?

1. Large number of buyers.
2. Single seller.
3. Homogeneous products.
4. Price maker.

Match the following.

1	Full employment	(i)	Changing of a job in a economy
2	Voluntary unemployment	(ii)	When there is progressive decline of an industry.
3	Frictional unemployment	(iii)	When some people are not willing to work at prevailing wage rate.
4	Structural unemployment	(iv)	When all those who are able and willing to work, get work.

Codes: I II III IV

1. (i) (ii) (iii) (iv)
2. (iv) (iii) (ii) (i)
3. (iv) (iii) (i) (ii)
4. (iv) (ii) (i) (iii)

Which variables are defined as any quantity measured at a particular point of time?

1. Stock.
2. Flow.
3. Investment.
4. Inventory.

Suppose the demand and supply curve of a Commodity-X is given by the following two equations simultaneously:
Qd = 200 - p
Qs = 50 + 2p

1. Find the equilibrium price and equilibrium quantity.
2. Suppose that the price of a factor of production producing the commodity has changed, resulting in the new supply curve given by the equation

Qs' = 80 + 2p
Analyse the new equilibrium price and new equilibrium quantity as against the original equilibrium price and equilibrium quantity.

In GNP calculation, which of the following should be excluded?

1. Rental incomes.
2. Interest payments.
3. Dividends.
4. Government transfer payment.

Which of the following measures of price elasticity shows elastic supply?

1. 0.
2. 0.5.
3. 1.0.
4. 1.5.

The 'lender of last resort' means:

1. The government coming to the rescue of poor farmers.
2. Central Bank coming to the rescue of other banks in times of financial crisis.
3. Commercial banks coming to the rescue of small industrial units.
4. None of them.

Rent control is an example of:

1. Price floor.
2. Price ceiling.
3. Equilibrium price.
4. None of the above

            is the main source of money supply is an economy.

1. Central bank
2. Commercial banks
3. Both (a) and (b)
4. Government