Commerce (English Medium)
Arts (English Medium)
Academic Year: 2010-2011
Date: March 2011
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When is a firm called ‘price-taker’?
Chapter: [0.04] Forms of Market and Price Determination
Define budget set.
Chapter: [0.02] Consumer Equilibrium and Demand
What is meant by ‘increase’ in supply?
Chapter: [0.03] Producer Behaviour and Supply
Define supply.
Chapter: [0.03] Producer Behaviour and Supply
Why is Production Possibilities Curve concave? Explain
Chapter: [0.03] Producer Behaviour and Supply
8 units of a good are demanded at a price of Rs 7 per unit. Price elasticity of demand is (−) 1. How many units will be demanded if the price rises to Rs 8 per unit? Use expenditure approach of price elasticity of demand to answer this question.
Chapter: [0.02] Consumer Equilibrium and Demand
Giving examples, explain the meaning of cost in economics.
Chapter: [0.01] Introduction
Draw average revenue and marginal revenue curves in a single diagram of a firm which can sell more units of a good only by lowering the price of that good. Explain.
Chapter: [0.04] Forms of Market and Price Determination
Explain the implication of ‘freedom of entry and exit to the firms’ under perfect competition.
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following : Perfect knowledge in perfect competition.
Chapter: [0.04] Forms of Market and Price Determination
“A consumer consumes only two goods X and Y”. State and explain the conditions of consumer’s equilibrium with the help of utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain how the demand for a good is affected by the prices of its related goods. Give examples.
Chapter: [0.02] Consumer Equilibrium and Demand
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Define ‘Market-supply’. What is the effect on the supply of a good when Government imposes a tax on the production of that good? Explain.
Chapter: [0.03] Producer Behaviour and Supply
What is a supply schedule? What is the effect on the supply of a good when Government gives a subsidy on the production of that good? Explain.
Chapter: [0.03] Producer Behaviour and Supply
What is meant by producer’s equilibrium? Explain the conditions of producer’s equilibrium through the ‘total revenue and total cost’ approach. Use diagram.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the three properties of the indifference curves.
Chapter: [0.02] Consumer Equilibrium and Demand
Market for a good is in equilibrium. There is an ‘increase’ in demand for this good. Explain the chain of effects of this change. Use diagram.
Chapter: [0.04] Forms of Market and Price Determination
What is nominal gross domestic product?
Chapter: [0.02] National Income and Related Aggregates
Define flow variables.
Chapter: [0.02] National Income and Related Aggregates
Define cash reserve ratio.
Chapter: [0.03] Money and Banking
Define money supply
Chapter: [0.04] Determination of Income and Employment
Define foreign exchange rate.
Chapter: [0.06] Open Economy Macroeconomics
State the components of capital account of balance of payments.
Chapter: [0.06] Open Economy Macroeconomics
Explain how ‘distribution of gross domestic product’ is a limitation in taking gross domestic product as an index of welfare.
Chapter: [0.02] National Income and Related Aggregates
Given that national income is Rs 80 crore and consumption expenditure Rs 64 crore, find out average propensity of save. When income rises to Rs 100 crore and consumption expenditure to Rs 78 crore, what will be the average propensity to consume and the marginal propensity to consume?
Chapter: [0.02] National Income and Related Aggregates
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Explain the relationship between investment multiplier and marginal propensity to consume.
Chapter: [0.04] Determination of Income and Employment
When price of a foreign currency rises, its demand falls. Explain why.
Chapter: [0.06] Open Economy Macroeconomics
When price of a foreign currency rises, its supply also rises. Explain why.
Chapter: [0.06] Open Economy Macroeconomics
Explain the ‘allocation of resources’ objective of Government budget.
Chapter: [0.05] Government Budget and the Economy
Explain the ‘redistribution of income’ objective of Government budget.
Chapter: [0.05] Government Budget and the Economy
From the following data about a Government budget, find out (a) Revenue deficit, (b) Fiscal deficit and (c) Primary deficit:
|
S. No. |
Items |
(Rs Arab) |
|
(i) |
Capital receipts net of borrowings |
95 |
|
(ii) |
Revenue expenditure |
100 |
|
(iii) |
Interest payments |
10 |
|
(iv) |
Revenue receipts |
80 |
|
(v) |
Capital expenditure |
110 |
Chapter: [0.05] Government Budget and the Economy
Giving reasons classify the following into intermediate products and final products:
(i) Furniture purchased by a school.
Chapter: [0.01] Introduction
Giving reasons classify the following into intermediate products and final products
Chalks, dusters, etc, purchased by a school.
Chapter: [0.01] Introduction
Explain the role of the following in correcting ‘deficient demand’ in an economy:
(i) Open market operations.
(ii) Bank rate.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the role of the following in correcting ‘excess demand’ in an economy:
(i) Bank rate.
(ii) Open market operations.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the process of money creation by the commercial banks with the help of a numerical example.
Chapter: [0.03] Money and Banking
Calculate National Income and Gross National Disposable Income from the following:
|
S. No. |
Items |
(Rs crore) |
|
(i) |
Net current transfers to the rest of the world |
(–) 5 |
|
(ii) |
Private final consumption expenditure |
500 |
|
(iii) |
Consumption of fixed capital |
20 |
|
(iv) |
Net factor income to abroad |
(–) 10 |
|
(v) |
Government final consumption expenditure |
200 |
|
(vi) |
Net indirect tax |
100 |
|
(vii) |
Net domestic fixed capital formation |
120 |
|
(viii) |
Net imports |
30 |
|
(ix) |
Change in stocks |
(–) 20 |
Chapter: [0.02] National Income and Related Aggregates
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