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Based on the given… (Class 12 Economics SQP 2024-25, Q10a)

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EconomicsCBSE Class 12 · Sample paper, session 2024-25 · 1 mark · MCQ

CBSE Class 12 Economics sample paper 2024-25: question 10(a)

From the official CBSE sample question paper for 2024-25, section A, question 10(a), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q10(a) · 1 mark · MCQCompetency-basedOpen Economy Macroeconomics

Based on the given diagram:
The trade under current account during January 2024 reflects a _________ of USD _____ billion. (Choose the correct option to fill up the blank)
Source: https://commerce.gov.in/wp-content/uploads/2024/02/PIB-Press-Release-January-2024-1.pdf

  1. (A)surplus, 0.74
  2. (B)surplus, 3.85
  3. (C)deficit, 0.74
  4. (D)deficit, 3.85

Figure in the paper: Bar chart titled 'Overall Trade (Merchandise + Services)', y-axis USD Billion (60 to 72). January-2023: Exports 63.80, Imports 67.65. January-2024: Exports 69.72, Imports 70.46. See it in the official paper.

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

Read only the January 2024 bars.

Hint 2

Deficit when payments exceed receipts.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. In January 2024, exports were USD 69.72 billion and imports USD 70.46 billion.

  2. Imports exceed exports by 70.46 − 69.72 = USD 0.74 billion, a deficit. (3.85 is the January 2023 gap.) Option (C).

    1 mark

Answer: (C) deficit, 0.74

Where the marks are

  • Imports − exports = 0.74 deficit (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Open Economy Macroeconomics, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.