CBSE Class 12 Economics Paper Answer Key – As per our readers’ demand and comments, we are publishing this article. If you want to know about CBSE Class 12 Economics Paper Answer Key, continue reading and learn more.
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About CBSE Class 12 Economics Paper Answer Key
CBSE Class 12 Board Examination 2023 for Economics was held on March 17, 2023. Students can now check the CBSE Class 12 Economics Answer Key provided by experts to verify their answers. This will help them to know the correct answers for all the questions and evaluate their performance in the exam.
The CBSE Class 12 Economics Answer Key can be downloaded in PDF format. It is recommended that students cross-check their answers with the answer key and calculate their probable scores. This will help them to analyze their strengths and weaknesses, and focus on improving their performance in the next exam.
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CBSE Class 12 Economics Answer Key 2023: Check Answers By Experts, Download Question Paper PDF
On March 17, 2023, the CBSE Class 12 Economics Exam was conducted by the Central Board of Secondary Education (CBSE) for commerce stream students. The exam was held from 10:30 AM to 1:30 PM and was rated as moderately difficult by students and experts. The paper had many challenging questions that required application-based thinking.
Students who appeared for the exam may be looking for the answer key to cross-check their answers and estimate their expected marks. While CBSE will release the answer key later, students can refer to the expert-provided CBSE Class 12 Economics Answer Key 2023 provided here on Jagran Josh. This will help students to know the precise answers and evaluate their performance. Additionally, the question paper PDF and detailed analysis of the paper can also be downloaded from the same source.
CBSE Class 12 Economics Paper Answer Key
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: (a) Statement 1 is true and Statement 2 is false.
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: (c) Autonomous payments over Autonomous receipts
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) devalued
Answer: (b) depreciated
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: (b) A deficit trade balance for Country X
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: (a) C=30+ 0.75 Y
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: (d) equal to zero
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: (d) ₹800 crores
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:
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FAQS
When will the CBSE Class 12 Economics Answer Key 2023 be released by CBSE?
CBSE will release the official answer key for CBSE Class 12 Economics Exam 2023 a few days after the exam is conducted. Students can check the CBSE website or their school’s website to access the answer key.
Can students challenge the CBSE Class 12 Economics Answer Key 2023?
Yes, students can challenge the official CBSE Class 12 Economics Answer Key 2023 within a specified period. They need to fill out an application form and pay a fee for each question they want to challenge. If the challenge is found to be correct, the fee is refunded, and the answer key is updated.
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