CBSE EXAMINATION PAPER-2022

Read the following text carefully. Answer questions on the basis of the given text and common understanding : 

Year 2020 began with the once-in-a-century pandemic, which saw the frontline workers working tirelessly to save human lives from COVID-19. The pandemic caused its ripples on the economy and on social sectors. Governments, at all levels, intervened in a timely manner to respond to the pandemic. 

India has one of the lowest case fatalities rates of less than 1·5%. India has been able to save lakhs of lives through its effective policy responses. Public spending on social sector was increased in 2020  21 to mitigate the hardships caused by the pandemic and the loss to livelihood due to the lockdown. 

The lockdown period saw the growth of the 'gig economy' and increasing 'work from home' in the organised sector. As per the Periodic Labour Force Survey (PLFS) report 2018-19, there was an increase in workforce totalling 48-78 crores in 2018-19 as compared to 47-14 crores during 2017-18. Out of 1-64 crores increased workforce, 1-22 crores were in rural sector and 0-42 crores in urban sector.

The female labour force participation rate increased from 17·5% in  2017  18 to 18·6% in 2018  Provident Fund Organisation (EPFO) as on 20th December, 2020 shows a net increase of new subscribers of 78·58 lakhs in 2019  20 as compared to 61·1 lakhs in 2018  19. The PLFS report also showed improvement in 2020  21 (Quarter 4) when compared to 2019  20 (Quarter 4).

Considering the proportion of the male workforce, casual labour decreased by 1% points, while self-employed and salaried workers increased by 0·6% points and 0·4% points respectively. Similarly, in case of female workforce, self-employed increased by 2% points, regular/wage salaried workers decreased by 0·7% points and casual labour decreased by 1·4% points.

Distinguish between 'Value of Output ' and 'Value Addition'.

Define 'Worker Population Ratio' and mention its utility.

Justify the following statement

"Full employment is an essential condition to be fulfilled under Keynesian Economics Principles."

State and discuss any one component of Aggregate Demand in a two-sector economy.

"Involuntary Unemployment is a situation where an able bodied person unwilling to work does not get work at the prevailing wage rate." Do you agree with the given statement? Elucidate briefly.

Calculate the Equilibrium level of Income for an imaginary economy, if it is given that :     

(a) Consumption function, C = 500 + 0·80 Y    where C = Consumption, Y = Income 

(b) Autonomous Investments (Io) = < 1,000 crore    

India and Pakistan initiated their journey of development, nearly at the same time, yet the two economies have travelled different distances." Justify the given statement with valid arguments.

Distinguish between Real Gross Domestic Product and Nominal Gross Domestic Product, using a suitable numerical example.

Discuss briefly the problem of 'Double Counting', using a suitable example.

"In a hypothetical economy, planned savings fall short of planned investments, leading to fall in employment and income."

Do you agree with the given statement? Support your answer with a valid explanation.

Define Inflationary Gap. State how the government can control the situation of inflationary gap using the taxation policy.

(i) State the meaning of the following :

(I)  Global burden of disease   

(II)  Mortality Rate         

(ii)  Discuss briefly, why less women are found in regular salaried employment. 

(i) Explain why regular salaried employees are generally more in urban areas than in rural areas. 

(ii) State any two main drawbacks of public health care system in India.