CBSE Class 10 Economics Answer Key 2023: The CBSE Class 12th students of the commerce stream, wrote their Economics paper today. The Central Board of Secondary Education, CBSE conducted the CBSE Class 12 Economics Exam from 10:30 AM to 1:30 PM. The Economics paper has been reviewed by students and experts and they rate it moderately difficult paper. Many questions in paper were challenging that were application based.
Now, most students must be looking for the answer key for the CBSE Class 12 Economics Question Paper 2023 so that they can check correct answers and estimate their expected marks in the Economics exam. CBSE will release the answer key later on but students can refer to the answer key provided here in this article of Jagran Josh. The CBSE Class 12 Economics Answer Key 2023 is created by the expert faculty to help students know precise answers. You can also download the question paper PDF here and check detailed analysis of the paper.
Related| CBSE Class 12 Economics Paper Analysis 2023: Exam Review, Difficulty Level & More
Related| CBSE Class 12 Economics Question Paper 2023 PDF
CBSE Class 12 Economics Paper Answer Key 2023
Section – A (Macro Economics)
1. “Considering the depreciation of Indian Currency (₹) in the international market, the Reserve Bank of India (RBI) has decided to purchase Indian currency (₹) in the open market.” This represents______ exchange rate system
(a) fixed
(b) flexible
(c) managed floating
(d) manipulated
Answer: (b) flexible
2. ‘Money is an asset which can be stored for use in future.”‘
In the light of given statement, identify the function of money.
(Choose the correct alternative)
(a) A measure of value
(b) A standard of deferred payment
(c) A store of value
(d) A medium of Exchange
Answer: (d) A medium of Exchange
3. (A) From the statements given in Column I and Column II, choose the correct pair.
|
Column I |
Column II |
||
|
A |
Vegetables grown in the Personal garden |
i |
Non marketing activity |
|
B |
A car used as a taxi |
ii |
Consumer good |
|
C |
An air-conditioner used by household |
iii |
Capital good |
|
D |
Scholarship given to students by |
iv |
Factor income |
Alternatives:
(a) A-(i)
(b) B-(ii)
(c) C-(iii)
(d) D-(iv)
Answer: (a) A-(i)
OR
(B) Complete the table:
Alternatives:
(a) 4000, 10400, 4000, 4000
(b) 4000, 10400, 4000, 4400
(c) 2000, 6000, 6000, 4400
(d) 4000, 10400, 6000, 4000
Answer:
4. Read the following statements carefully:
Statement 1: In a two sector economy, consumption expenditure and investment expenditure are the two components of Aggregate Demand.
Statement 2: Aggregate demand curve always start from point of origin with positive slope.
In the light of given statements, choose the correct alternative from the following:
(a) Statement 1 is true and Statement 2 is false.
(b) Statement 1 is false and Statement 2 is true.
(c) Both statements 1 and 2 are true.
(d) Both statements 1 and 2 are false.
Answer:
5. ‘Deficit’ in Balance of Payment (BOP) refers to the excess of (Choose the correct alternative)
(a) Current account payments over Current account receipts.
(b) Capital account payments over Capital account receipts
(c) Autonomous payments over Autonomous receipts
(d) Accommodating payments over Accommodating receipts
Answer:
6. (A) 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 _________
(Choose the correct alternative)
(a) appreciated
(c) revalued
(b) depreciated
(d) devaluedj
Answer:
OR
(B) 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 ? (Choose the correct alternative)
(a) A surplus trade balance in Country X
(b) A deficit trade balance for Country X
(c) A rise in exports from Country X to Country Y
(d) A deficit trade balance for Country Y
Answer:
7. (A) If in an economy, the Investment Multiplier is 4 and Autonomous Consumption is ₹30 crore, the relevant consumption function would be _____(Fill up the blank with correct alternative)
(a) C=30+ 0.75 Y
(b) C=(-) 30+ 0.25 Y
(c) C=30+0.25 Y
(d) C=(-) 30-0.25 Y
Answer:
OR
(B) If increase in National Income is equal to increase in Savings, the value of Marginal Propensity to Consume would be ______(Fill up the blank with correct alternative)
(a) equal to unity
(b) greater than one
(c) less than one
(d) equal to zero
Answer:
8. In an economy, the value of Marginal Propensity to Save (MPS) is 0.25, what will be the value of increase in income, if investments increased by ₹200 crores
(a) ₹200 crores
(b) ₹150 crores
(c) ₹1,000 crores
(d) ₹800 crores
Answer:
9. Read the following statements carefully:
Statement 1: Money supply (M,) in India does not include ‘demand deposits’ with commercial banks.
Statement 2: Money supply (M,) refers to, assets available with the Commercial Banks during a particular period of time.
In the light of the given statements, choose the correct alternative.
(a) Statement 1 is true and Statement 2 is false.
(b) Statement 1 is false and Statement 2 is true.
(c) Both statements 1 and 2 are true.
(d) Both statements 1 and 2 are false.
Answer:
10. Read the following statements – Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Full employment refers to, absence of involuntary unemployment.
Reason (R): Under full employment situation, all willing and able bodied people get employment at prevailing wage rate.
Alternatives:
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.
Answer:
CBSE Class 12 Result Date 2023
CBSE Class 12 board exam results will be declared in May or June 2023 (tentative).
You’ll able to check your CBSE Class 12 Results by clicking the following links.
