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Explain the meaning of excess demand and excess supply with the help of a schedule. Explain their effect on equilibrium price.
Concept: Equilibrium Price
Define revenue
Concept: Measures of Government Deficit
A market for a good is in equilibrium. The demand for the good 'increases'. Explain the chain of effects of this change.
Concept: Market Equilibrium
Which one of these is a revenue expenditure?
Concept: Classification of Expenditure
A market for a product is in equilibrium. Demand for the product "decreases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram
Concept: Market Equilibrium
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
Expenditure on purchasing computers
Concept: Classification of Expenditure
What is imperfect oligopoly?
Concept: Market Forms - Imperfect Oligopoly
Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget:
Expenditure on scholarships
Concept: Classification of Expenditure
The government has started spending more on providing free services like education and health to the poor. Explain the economic value it reflects.
Concept: Classification of Expenditure
Define price floor. Explain the implications of price floor.
Concept: Price Floor
What are two alternative ways of determining equilibrium level of income? How are these related?
Concept: Determination of Market Equilibrium
Explain the major components of government budget.
Concept: Types of Budget
In order to tackle the problem of rising general price in an economy, government may come up with a surplus budget to achieve the budget objective of ______.
- reallocation of resources
- price stability
- redistribution of income
Concept: Objectives of Government Budget
Assertion (A): The Balance of payments is in surplus, if autonomous receipts are greater than autonomous payments.
Reason (R): Autonomous transactions are determined by the difference in the Balance of Payments.
Concept: Concept of Balance of Payments >> Balance of Payments Surplus and Deficit
As per the Reserve Bank of India (RBI) press report, dated 22nd June, 2022:
"Net Foreign Portfolio Investment (FPI) recorded an outflow of US $15.2 billion mainly from the equity market."
The above transaction will be recorded in the ______ account on ______ side of Balance of payments account of India.
Concept: Concept of Balance of Payments >> Capital Account
'Deficit' in Balance of payment (BOP) refers to the excess of ______.
Concept: Concept of Balance of Payments >> Balance of Payments Surplus and Deficit
Suppose, the price of one UK Pound (£) has increased from ₹ 70 to ₹ 80, owing to market forces.
This means that value of Indian Currency (₹) has ______.
Concept: Determination of the Exchange Rate
Suppose, Country X, has more inflation than Country Y. Which of the following is most likely situation to happen in such a case, assuming other factors being constant?
Concept: Concept of Balance of Payments >> Balance of Payments Surplus and Deficit
The entire classroom, M. Hamel as well as those present in the class, is full of regret. For what and why?
Concept: The Last Lesson
Read the given extract and answer the questions.
| The clerk figured the fare – he glanced at my fancy hat band, but he figured the fare – and I had enough for two coach tickets, one way. But when I counted out the money and looked up, the clerk was staring at me. He nodded at the bills. ‘‘That ain’t money, mister,’’ he said, ‘‘and if you’re trying to skin me, you won’t get very far,’’ and he glanced at the cash drawer beside him. Of course the money was old-style bills, half again as big as the money we use nowadays, and different-looking. |
- Why did Charley ask for two tickets? (1)
- Complete the sentence by choosing the correct option: (1)
When Charley offered money to the booking clerk, the latter stared at Charley because the booking clerk ______.
- thought it wasn't money
- did not trust Charley
- thought Charley was trying to tease him
- thought that Charley had given him less money
- Select the option that best describes Charley in this extract. (1)
He is ______.- a cheat
- gullible
- an opportunist
- an escapist
- 'If you're trying to skin me' suggests ______. (1)
Concept: The Third Level
