Open Economy Macroeconomics — Economics STD 12 Humanities & Commerce — Question

Price elasticity of demand of a good is (-)1. When its price per unit falls by one rupee, its demand rises from 16 to 18 units. Calculate the price before change.

List the three different ways in which oligopoly firms may behave.

Classify the into consumer, intermediate or capital goods.
Textile machinery.

Define market rate of exchange.

Calculate Gross National Product at Market Price and from the following data:

S.No.	Contents	₹ (in crore)
(i)	Corporation Tax	35
(ii)	Wages and Salaries	200
(iii)	National Debt Interest	25
(iv)	Operating Surplus	400
(v)	Net Current Transfers from Abroad	15
(vi)	Corporation Tax	(-)10
(vii)	Consumption of Fixed Capital	20
(viii)	Social Security Contribution by Employers	30
(ix)	Net Indirect Tax	40
(x)	Net Domestic Product at Factor Cost Accruing to Private Sector	500

Explain the condition of consumer's equilibrium in case of two commodities.

Explain any two main features of a centrally planned economy.

What is the slope of Production Possibility Curve? What does it show?

Define money supply and explain its components.

OR

Explain the various components of supply of money used by RBI.

Give the relationship between the revenue deficit and the fiscal deficit.