MOCK EXAMINATION MARKING SCHEME (HINTS)

Q1. b) Statement 1 is false and statement 2 is true

Q2. d) Outflow of US Dollars from India will rise.
Q3. b) 5000
Q4. c) Both statements 1 and 2 are true
Q5. b. Both the statements are incorrect OR c. Change in stock
Q6. b. 0.2 OR c. Deficient demand
Q7. c) 1,3 and 4 are correct
Q8. b. 60 OR a. 200
Q9. a. Both A and R are true and R is the correct explanation of A
Q10. d. A is false but R is true

Q11. VALUE ADDED BY A= 1500 VALUE ADDED BY B= 1500-1000= 500

VALUE ADDED BY C= 1500-800=700
TOTAL VALUE ADDED GVA mp= 2700

Q12. Managed floating – RBI to appreciate the domestic currency by buying foreign exchange in the
market.it will help to make the imports cheaper.
or
explain the term depreciation and it will lead to increase in the flow of FDI. …..

Q13. EQUILIBRIUM LEVEL OF INCOME

AD=AS
Y=C+I
Y= 50+0.5Y+6000
0.5Y=6050
Y=60500/5=12100
C= 12100-6000=6100

Q14. a. Inventories accumulate when planned saving is more than planned investment- TRUE as
AD<AS, the demand falls short of supply. so inventories accumulate
b. When the value of MPC is 1, value of multiplier is also 1.- False- when the value of MPC is 1, value
of the multiplier is infinity.

Q15. write any monetary measure to control the situation of inflation.

Rise in repo rate , rise in reverse repo rate . rise in CRR etc…

Q16.
a. No, Net factor income from abroad is a part of national income not domestic income as domestic
income only includes income earned in the domestic territory of the country.
b. take a numerical example to explain that real income is a better indicator of increase in output.

Q17. a. Government recently announced subsidies on Electric Vehicles- reallocation of resources

b. Government aims to spend 3 lakh crores on Infrastructure Development- Economic growth
c. Government provided free ration for 18 months during COVID Pandemic- Redistribution of income
and wealth.
or
a.
(i) Dividend worth ₹ 1203 cr received by government from 5 Central Public Sector Enterprises-
revenue receipt as it neither creates a liability nor reduces asset
 (ii) Recovery of 500 mn $ loan given to Bhutan 3 years back.- Capital receipt as it leads to reduction
in asset.
(iii) Goods and service tax collection of 10 lakh crores.- revenue receipt as it neither creates a
liability nor reduces asset.

b. Direct question

SECTION B IED

Q18. (a) (iii) (iv) (i) (ii)

Q19. (c) ‘a’ and ‘b’ both or (b) Industries which would be exclusively owned by the state
Q20. c) China OR (b) Great Proletarian Cultural Revolution

Q21. (a) Food Corporation of India

Q22. (b) One-child Policy
Q23. c) A is true but R is false
Q24. (b) Both A and R are true but R is not the correct explanation of A
Q25. (a) Plimsoll line OR (c) Both (a) and (b)

Q26. (c) I is correct II is incorrect

Q27. (c) Young population

Q28. HOW PLANTING A TREE HELPS?

HOW SWITCHING OFF LIGHTS HELPS?
HOW RECYCLING HELPS?

Q29. EXPLAIN THE ROLE OF SHGS

OR
EXPLAIN JOBLESS GROWTH

Q30. TABLE ANALYSIS

Q31. EXPLAIN-
HIGH FISCAL DEFICIT
FOREIGN EXCHANGE CRISIS
HIGH DEBT
…….
OR
STABILIZATION- SHORT TERM – DEVALUATION, BORROWING ETC
STRUCTURAL- LONG TERM- LPG

Q32. BENEFITS OF FORMAL SECTOR

Q33. ORGANIC FARMING TO BE PROMOTED CAUTIOUSLY WITH BENEFITS.

b. Benefits of Agricultural diversification
OR
IMPORTANCE OF EDUACTION FOR A NATION

Q34. OBJECTIVES OF NEP

AGRICULTURE SECTOR- WITH REASONS