Class 12 Economics 2016 Board Exam

Define flows.

National income is the sum of factor incomes accruing to :
(Choose the correct alternative)
(a) Nationals
(b) Economic territory
(c) Residents
(d) Both residents and non-residents

Assuming real income to be ₹ 200 crore and price index to be 135, calculate nominal income.

Sale of petrol and diesel cars is rising particularly in big cities. Analyse its impact on gross domestic product and welfare.

Find Gross National Product at Market Price and Private Income :

S.No.	Particulars	Amount (₹ crores)
(i)	Private final consumption expenditure	800
(ii)	Net current transfers to abroad	20
(iii)	Net factor income to abroad (–)	10
(iv)	Government final consumption expenditure	300
(v)	Net indirect tax	150
(vi)	Net domestic capital formation	200
(vii)	Current transfers from government	40
(viii)	Depreciation	100
(ix)	Net imports	30
(x)	Income accruing to government	90
(xi)	National debt interest	50

[1] If nominal income is ₹ 500 and price index is 125, calculate real income.

Calculate Net National Product at Market Price and Private income.

S.No.	Particulars	Amount (₹ crores)
(i)	Net current transfers to abroad	10
(ii)	Private final consumption expenditure	500
(iii)	Current transfers from government	30
(iv)	Net factor income to abroad	20
(v)	Net exports (–)	20
(vi)	Net indirect tax	120
(vii)	National debt interest	70
(viii)	Net domestic capital formation	80
(ix)	Income accruing to government	60
(x)	Government final consumption expenditure	100

If real income is ₹ 400 and price index is 105, calculate nominal income.

Calculate National Income and Personal Disposable Income :

S.No.	Particulars	Amount (₹ crores)
(i)	Corporation tax	100
(ii)	Private final consumption expenditure	900
(iii)	Personal Income tax	120
(iv)	Government final consumption expenditure	200
(v)	Undistributed profits	50
(vi)	Change in stocks (–)	20
(vii)	Net domestic fixed capital formation	120
(viii)	Net imports	10
(ix)	Net indirect tax	150
(x)	Net factor income from abroad (–)	10
(xi)	Private income	1000

Explain the ‘medium of exchange’ function of money. How has it solved the related problem created by barter ?
OR
Explain the ‘standard of deferred payment’ function of money. How has it solved the related problem created by barter ?