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Micheal Vaz solutions for 12th Board Exam Economics chapter 10 - Determinants of Aggregates

Micheal Vaz Class 12 Economics

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Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Chapter 10: Determinants of Aggregates

Exercise

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 93]

Exercise | Q 1.1 | Page 93

Fill in the blank with appropriate alternatives given below

The General Theory of Employment, Interest and Money was written by __________. 

  • David Ricardo

  • Adam Smith

  • J.M.Keynes

  • Alfred Marshal

Exercise | Q 1.2 | Page 93

Fill in the blank with appropriate alternatives given below

That part of income, which is not spent on consumption, is called __________. 

  • expenditure

  • saving

  • investment

  • publicdebt

Exercise | Q 1.3 | Page 93

Fill in the blank with appropriate alternatives given below

Intersection between aggregate demand and aggregate supply curves determines the point of __________ demand. 

  • composite

  • complementary

  • joint

  • effective

Exercise | Q 1.4 | Page 93

Fill in the blank with appropriate alternatives given below

 __________ consumption cannot be zero.

  • Induced

  • Autonomous

  • Government

  • Private

Exercise | Q 1.5 | Page 93

Fill in the blank with appropriate alternatives given below

Investment made by the government is __________ investment. 

  • induced

  • autonomous

  • gross

  • unplanned 

Exercise | Q 2 | Page 93

Match the following Group:

Group A Group B
1) Aggregate Supply a) Expected receipts
2) Autonomous Investment b) Lord J. M. Keynes
3) Consumption  c) Government Investment
4) A.P.C. d) ΔC/ΔY
5) Investment  e) C/Y
    f) Addition to stock of capital
    g) Destruction of utility
Exercise | Q 3.1 | Page 93

State whether the following statement is true or false.

Consumption expenditure is the only component of aggregate demand.

  • True

  • False

Exercise | Q 3.2 | Page 93

State whether the following statement is true or false.

The difference between a country's exports and imports is termed as net earnings from foreign transactions.

  • True

  • False

Exercise | Q 3.3 | Page 93

State whether the following statement is true or false.

Autonomous consumption is income elastic.

  • True

  • False

Exercise | Q 3.4 | Page 93

State whether the following statement is true or false.

The equality between aggregate demand and aggregate supply determines the equilibrium level of employment.

  • True

  • False

Exercise | Q 3.5 | Page 93

State whether the following statement is true or false.

At breakeven point Consumption (C) is equal to income (Y).

  • True

  • False

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 94]

Exercise | Q 1.1 | Page 94

Define or Explain the following concept:

Autonomous Consumption

Exercise | Q 1.2 | Page 94

Define or Explain the following concept:

Aggregate Demand

Exercise | Q 1.3 | Page 94

Define or Explain the following concept:

Aggregate Supply

Exercise | Q 1.4 | Page 94

Define or Explain the following concept:

Effective Demand

Exercise | Q 2.1 | Page 94

Give reason or explain.

Investment demand is not the sole determinant of aggregate demand.

Exercise | Q 2.2 | Page 94

Give reason or explain.

Saving may be used in future for unforeseen contingencies.

Exercise | Q 2.3 | Page 94

Give reason or explain.

There are many subjective factors determining consumption function.

Exercise | Q 2.4 | Page 94

Give reason or explain.

Aggregate demand is a positive function of the level of employment and output.

Exercise | Q 2.5 | Page 94

Give reason or explain.

The Propensity to Consume means consumption function.

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 94]

Exercise | Q 1.1 | Page 94

Distinguish between:

Aggregate Demand and Aggregate Supply

Exercise | Q 1.2 | Page 94

Distinguish between:

Autonomous Investment and Induced Investment

Exercise | Q 1.3 | Page 94

Distinguish between:

Exports and Imports

Exercise | Q 1.4 | Page 94

Distinguish between:

Consumption and Saving

Exercise | Q 1.5 | Page 94

Distinguish between:

Consumption Function and Saving Function

Exercise | Q 2.1 | Page 94

Write Short note on:

Effective Demand

Exercise | Q 2.2 | Page 94

Write Short note on:

Saving Function

Exercise | Q 2.3 | Page 94

Write Short note on:

Break-even Point

Exercise | Q 2.4 | Page 94

Write Short note on:

Average Propensity to Consume

Exercise | Q 2.5 | Page 94

Write Short note on:

Marginal Propensity to Consume

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 94]

Exercise | Q 1 | Page 94

Answer the following question:
What are the determinants of Aggregate Demand (AD)?

Exercise | Q 2 | Page 94

Answer the following question:
What are the determinants of Aggregate Supply (AS)?

Exercise | Q 3 | Page 94

Answer the following question:
State J. M. Keynes' Psychological Law of Consumption.

Exercise | Q 4 | Page 94

Answer the following question:
What is autonomous consumption?

Exercise | Q 5 | Page 94

Answer the following question:
State the subjective factors determining consumption function?

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 94]

Exercise | Q 1.1 | Page 94

State with reason whether you agree or disagree with the following statement.

Aggregate demand depends only on the consumption expenditure.

Exercise | Q 1.2 | Page 94

State with reason whether you agree or disagree with the following statement.

Aggregate supply is influenced by the state of technology only.

Exercise | Q 1.3 | Page 94

State with reason whether you agree or disagree with the following statement.

Positive net earnings from foreign transactions add to aggregate demand.

Exercise | Q 1.4 | Page 94

State with reason whether you agree or disagree with the following statement.

At break-even point, consumption (C) is equal to income (Y).

Exercise | Q 1.5 | Page 94

State with reason whether you agree or disagree with the following statement.

Savings are negative before break-even point.

Chapter 10: Determinants of Aggregates Exercise Exercise solutions [Page 94]

Exercise | Q 1 | Page 94

Answer in detail.
Explain the determinants of aggregate demand.

Exercise | Q 2 | Page 94

Answer in detail.
What is Aggregate Supply? Explain the determinants of Aggregate Supply.

Exercise | Q 3 | Page 94

Answer in detail.
Explain the equilibrium between Aggregate Demand and Aggregate Supply.

Exercise | Q 4 | Page 94

Answer in detail.
What are the objective factors influencing consumption function?

Exercise | Q 5 | Page 94

Answer in detail.
Give an idea about the subjective factors determining consumption function.

Chapter 10: Determinants of Aggregates

Exercise

Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Economics chapter 10 - Determinants of Aggregates

Micheal Vaz solutions for 12th Board Exam Eco chapter 10 (Determinants of Aggregates) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Micheal Vaz Class 12 Economics solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in 12th Board Exam Economics chapter 10 Determinants of Aggregates are Total Demand for Good and Services, Concept of Aggregate Demand and Aggregate Supply, Consumption Demand, Investment Demand, Government Demand, Foreign Demand, Difference Betweeen Export and Import, Effect of Population of Consumption Expediture, Types of Investment Expenditure, Micro Eco-Equilibrium.

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