Commerce (English Medium)
Arts (English Medium)
Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
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Demand curve of a firm is perfectly elastic under: (Choose the correct alternative)
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly
Chapter: [0.04] Forms of Market and Price Determination
Differentiated products is a characteristic of: (Choose the correct alternative):
(a) Monopolistic competition only
(b) Oligopoly only
(c) Both monopolistic competition and oligopoly
(d) Monopoly
Chapter: [0.04] Forms of Market and Price Determination
A firm is able to sell any quantity of a good at a given price. The firm's marginal revenue will be : (Choose the correct alternative):
(a) Greater than Average Revenue
(b) Less than Average Revenue
(c) Equal to Average Revenue
(d) Zero
Chapter: [0.03] Producer Behaviour and Supply
When does "change in quantity demanded" take place?
Chapter: [0.02] Consumer Equilibrium and Demand
What happens to the difference between Average Total Cost and Average Variable Cost as production is increased?
Chapter: [0.03] Producer Behaviour and Supply
What is minimum price ceiling? Explain its implications.
Chapter: [0.04] Forms of Market and Price Determination
If the prevailing market price is above the equilibrium price, explain its chain of effects.
Chapter: [0.04] Forms of Market and Price Determination
A consumer consumes only two goods X and Y. Marginal utilities of X and Y are 4 and 3 respectively. Price of X and price of Y is Rs 3 per unit. Is consumer in equilibrium? What will be further reaction of the consumer? Give reasons.
Chapter: [0.02] Consumer Equilibrium and Demand
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
Chapter: [0.02] Consumer Equilibrium and Demand
When price of a good rises from Rs 10 to Rs 12 per unit the producer supplies 10 percent more. Calculate price elasticity of supply.
Chapter: [0.03] Producer Behaviour and Supply
Explain the law of diminishing marginal utility with the help of a total utility schedule.
Chapter: [0.02] Consumer Equilibrium and Demand
Define utility.
Chapter: [0.02] Consumer Equilibrium and Demand
Define fixed cost. Give an example.
Chapter: [0.03] Producer Behaviour and Supply
What is the behaviour of average fixed cost as output is increased? Why is it so?
Chapter: [0.03] Producer Behaviour and Supply
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Define marginal product.
Chapter: [0.03] Producer Behaviour and Supply
State the behaviour of marginal product when only one input is increased and other inputs are hold constant.
Chapter: [0.03] Producer Behaviour and Supply
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in an oligopoly market: Barriers to entry of new firms
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in an oligopoly market: A few or a few big sellers
Chapter: [0.04] Forms of Market and Price Determination
Examine the effect of (a) fall in the own price of good X and (b) rise in tax rate on good X, on the supply curve. Use diagrams.
Chapter: [0.03] Producer Behaviour and Supply
Explain the three properties of the indifference curves.
Chapter: [0.02] Consumer Equilibrium and Demand
Why do central problems of an economy arise?
Chapter: [0.01] Introduction
Answer the following question.
Explain the central problem for whom to produce.
Chapter: [0.01] Introduction
Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called ______.
Current transactions
Capital transactions
Autonomous transactions
Accommodating transactions
Chapter: [0.06] Open Economy Macroeconomics
Primary deficit equals : (Choose the correct alternative)
(a) Borrowings
(b) Interest payments
(c) Borrowings less interest payments
(d) Borrowings and interest payments both
Chapter: [0.05] Government Budget and the Economy
National income is the sum of factor incomes accruing to : (Choose the correct alternative)
(a) Nationals
(b) Economic territory
(c) Residents
(d) Both residents and non-residents
Chapter: [0.02] National Income and Related Aggregates
Define fiscal deficit
Chapter: [0.05] Government Budget and the Economy
Define flows.
Chapter: [0.02] National Income and Related Aggregates
An economy is in equilibrium. Find investment expenditure :
National income =1200
Autonomous consumption expenditure=150
Marginal Propensity to consume =0.8
Chapter: [0.02] National Income and Related Aggregates
If nominal income is Rs 500 and price index is 125, calculate real income.
Chapter: [0.02] National Income and Related Aggregates
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What is aggregate demand?
Chapter: [0.04] Determination of Income and Employment
State components of Aggregate demand ?
Chapter: [0.04] Determination of Income and Employment
Explain how controlling money supply is helpful in reducing excess demand.
Chapter: [0.03] Money and Banking
Explain the role of Cash Reserve Ratio in controlling credit creation.
Chapter: [0.03] Money and Banking
Sale of petrol and diesel cars is rising particularly in big cities. Analyse its impact on gross domestic product and welfare.
Chapter: [0.02] National Income and Related Aggregates
Explain the 'medium of exchange' function of money. How has it solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Explain the 'standard of deferred payment' function of money. How has it solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Calculate Net National Product at Market Price and Private Income:
| (Rs in crore) | ||
| i | Net Current transaction to abroad | 10 |
| ii | Private final consumption expenditure | 500 |
| iii | Current transfer to government | 30 |
| iv | Net factor income to abroad | 20 |
| v | Net exports | (-20) |
| vi | Net indirect tax | 120 |
| vii | National debt interest | 70 |
| viii | Net domestic capital formation | 80 |
| ix | Income accruing to government | 60 |
| x | Government final consumption expenditure | 100 |
Chapter: [0.02] National Income and Related Aggregates
Indian investors lend abroad. Answer the following questions :
(a) In which sub-account and on which side of the Balance of Payments Account such lending is recorded? Give reasons.
(b) Explain the impact of the lending on market exchange rate.
Chapter: [0.06] Open Economy Macroeconomics
Given saving curve, derive consumption curve and state the steps in doing so. Use diagram.
Chapter: [0.03] Producer Behaviour and Supply
Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each.
Chapter: [0.05] Government Budget and the Economy
Explain how taxes and government expenditure can be used to influence revenue expenditure and capital expenditure?
Chapter: [0.05] Government Budget and the Economy
What is the difference between direct tax and indirect tax?
Chapter: [0.05] Government Budget and the Economy
Answer the following question.
Explain the role of government budget in influencing the allocation of resources.
Chapter: [0.05] Government Budget and the Economy
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