PYQ ENGLISH

PYQ PHYSICS

PYQ CHEMISTRY

PYQ BIOLOGY

PYQ POLITICAL SCIENCE

PYQ HISTORY

PYQ GEOGRAPHY

IMPORTANT QUESTIONS

1. Explain the functions of a commercial bank.

   View solution
2. What is High Powered Money?

   Medium View solution
3. What is a ‘legal tender’? What is ‘fiat money’?

   Medium View solution
4. What are the alternative definitions of money supply in India?

   Medium View solution
5. What is transaction demand for money? How is it related to the value of transactions over a specified period of time?

   Medium View solution
6. What are the main functions of money? How does money overcome the shortcomings of a barter system?

   Hard View solution
7. What is a barter system? What are its drawbacks?

   Medium View solution
8. Write down some of the limitations of using GDP as an index of welfare of a country.

   Hard View solution
9. The value of the nominal GNP of an economy was Rs 2,500 crores in a particular year. The value of GNP of that country during the same year, evaluated at the prices of same base year, was Rs 3,000 crores. Calculate the value of the GNP deflator of the year in percentage terms. Has the price level risen between the base year and the year under consideration?

   Medium View solution
10. In a single day Raju, the barber, collects Rs 500 from haircuts; over this day, his equipment depreciates in value by Rs 50. Of the remaining Rs 450, Raju pays sales tax worth Rs 30, takes home Rs 200 and retains Rs 220 for improvement and buying of new equipment. He further pays Rs 20 as income tax from his income. Based on this information, complete Raju’s contribution to the following measures of income
    (a) Gross Domestic Product
    (b) NNP at market price
    (c) NNP at factor cost
    (d) Personal income
    (e) Personal disposable income.

    Hard View solution