RKG INSTITUTE BY CA PARAG GUPTA
B - 193 ,SECTOR 52 , NOIDA
HCF
Class 12 - Economics
Time Allowed: 1 hour and 30 minutes Maximum Marks: 40
1. Which of the following is not the role of on-the-job training? [1]
a) Enhances productivity b) Encourages innovation
c) Eradicates inequality d) Promotes modern methods
2. What is the full form of ICMR? [1]
a) Indian Council for Medical Research b) International Council of Medical Research
c) International council of Medical Resource d) Indian council of Medical Resources
3. In which state is per capita expenditure on elementary education is lowest? [1]
a) Himachal Pradesh b) Sikkim
c) West Bengal d) Bihar
4. Under human capital formation, people spent money to acquire information relating to [1]
a) education institutions b) All of these
c) labour market d) health institutions
5. Expenditure on education is a source of: [1]
a) Human capital formation as well as physical b) capital formation
capital formation
c) Physical capital formation d) Human capital formation
6. Which of the following is an indicator of educational achievement in a country? [1]
a) Infant mortality rate b) High birth rate
c) HDI d) Adult literacy rate
7. Assertion (A): High level of human capital implies not only high earning potential but also a change in the [1]
social and economic outlook.
Reason (R): It transforms the way of thinking and allow an individual to make well-informed and rational
decisions.
a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.
c) A is true but R is false. d) A is false but R is true.
8. Assertion (A): During 1952-2014 the increase in education expenditure has been uniform. [1]
Reason (R): Throughout this period, there has been irregular rise and fall.
a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
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explanation of A. correct explanation of A.
c) A is true but R is false. d) A is false but R is true.
9. Assertion (A): Firms are always inclined to undertake the on-the-job training programme. [1]
Reason (R): Costs on account of enhanced productivity far exceeds the return of such a programme.
a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.
c) A is true but R is false. d) A is false but R is true.
10. Education and health are the two major sources of ________ in a country. [1]
a) Human Resource b) Both Physical Capital and Human Capital
c) Human Capital d) Physical Capital
11. If ____ capital represents production capacity of a nation, _____ capital is the cause that designs machines. [1]
a) Physical, Financial b) Financial, Human
c) Physical, Human d) Human, Physical
12. The government of India is leving a ________ percent Education Cess on all the union taxes for spending on [1]
elementary education.
a) 2 percent b) 12 percent
c) 10 percent d) 5 percent
13. State True or False: [2]
(a) Skill formation is a key factor for ensuring economic development. [1]
(b) Human capital formation leads to inventions, innovations and technological improvement. [1]
14. How migration promotes human capital formation? [3]
15. The difference in literacy rates between males and females are narrowing signifying a positive [3]
development in gender equity, still the need to promote education for women in India is imminent. Do you
agree with the statement? Give reasons in support of your answer.
16. The Education Commission in 1966, had recommended that at least 6% of GDP should be spent on education in [4]
India. However, even after 50 years of such a recommendation, the government continues to spend 3-4% of
GDP on education. How has this affected the education sector in India? What value stands violated by the
Central Government?
17. Do you think the current level of education expenditure is inadequate? Why? [4]
18. Bring out the differences between human capital and physical capital. [6]
19. Explain the principal role of human capital formation in the accelerating rate of economic growth. [6]
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