Commerce (English Medium)
Arts (English Medium)
Academic Year: 2012-2013
Date: March 2013
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Define marginal revenue.
Chapter: [0.03] Producer Behaviour and Supply
What does a rightward shift of demand curve indicate?
Chapter: [0.02] Consumer Equilibrium and Demand
Under which market form is a firm a price taker?
Chapter: [0.04] Forms of Market and Price Determination
When is the demand for a good said to be perfectly inelastic?
Chapter: [0.02] Consumer Equilibrium and Demand
Give one reason for an “increase” in supply of a commodity.
Chapter: [0.03] Producer Behaviour and Supply
How is the demand for a good affected by a rise in the prices of other goods? Explain.
Chapter: [0.04] Forms of Market and Price Determination
A firm supplies 10 units of a good at a price of Rs 5 per unit. Price elasticity of supply is 1.25. What quantity will the firm supply at a price of Rs 7 per unit?
Chapter: [0.03] Producer Behaviour and Supply
Explain the meaning of diminishing marginal rate of substitution with the help of an example.
Chapter: [0.02] Consumer Equilibrium and Demand
From the following table, find out the level of output at which the producer will be in equilibrium. Give reasons for your answer.
|
Output (units) |
Marginal Revenue Rs |
Marginal Cost Rs |
|
1 |
8 |
10 |
|
2 |
8 |
8 |
|
3 |
8 |
7 |
|
4 |
8 |
8 |
|
5 |
8 |
9 |
Chapter: [0.03] Producer Behaviour and Supply
Why can a firm not earn abnormal profits under perfect competition in the long run? Explain.
Chapter: [0.04] Forms of Market and Price Determination
Why is the demand curve of a firm under monopolistic competition more elastic than under monopoly? Explain.
Chapter: [0.04] Forms of Market and Price Determination
Equilibrium price of an essential medicine is too high. Explain what possible steps can be taken to bring down the equilibrium price but only through the market forces. Also explain the series of changes that will occur in the market.
Chapter: [0.04] Forms of Market and Price Determination
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Answer the following question.
Explain the meaning of opportunity cost with the help of a production possibility schedule.
Chapter: [0.01] Introduction
Answer the following question.
Explain the central problem for whom to produce.
Chapter: [0.01] Introduction
A 5 percent fall in the price of a good raises its demand from 300 units to 318 units. Calculate its price elasticity of demand.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the three properties of the indifference curves.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
If equilibrium price of a good is greater than its market price, explain all the changes that will take place in the market. Use diagram.
Chapter: [0.02] Consumer Equilibrium and Demand
Giving reasons, state whether the following statements are true or false:
(i) Average product will increase only when marginal product increases.
(ii) With increase in level of output, average fixed cost goes on falling till it reaches zero.
(iii) Under diminishing returns to a factor, total product continues to increase till marginal product reaches zero
Chapter: [0.03] Producer Behaviour and Supply
Give two examples of intermediate goods.
Chapter: [0.02] National Income and Related Aggregates
State the components of supply of money.
Chapter: [0.03] Producer Behaviour and Supply
What one step can be taken through market to reduce the consumption of a product harmful for health?
Chapter: [0.02] National Income and Related Aggregates
How can Reserve Bank of India help in bringing down the foreign exchange rate which is very high?
Chapter: [0.03] Money and Banking
Explain 'Revenue Deficit in a Government budget? What does it indicate?
Chapter: [0.05] Government Budget and the Economy
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Explain the significance of 'medium of exchange' function of money
Chapter: [0.03] Money and Banking
Answer the following question.
Explain the 'lender of last resort' function of central bank.
Chapter: [0.03] Money and Banking
Distinguish between revenue receipts and capital receipts. Give an example of each.
Chapter: [0.02] National Income and Related Aggregates
Answer the following question.
Explain how the government can use the budgetary policy in reducing inequalities in incomes.
Chapter: [0.05] Government Budget and the Economy
Explain the effect of depreciation of domestic currency on exports.
Chapter: [0.02] National Income and Related Aggregates
How is exchange rate determined in the foreign exchange market? Explain.
Chapter: [0.06] Open Economy Macroeconomics
Calculate ‘Sales’ from the following data:
|
(Rs in lakhs) |
|||
|
(i) |
Subsidies |
200 |
|
|
(ii) |
Opening stock |
100 |
|
|
(iii) |
Closing stock |
600 |
|
|
(iv) |
Intermediate consumption |
3,000 |
|
|
(v) |
Consumption of fixed capital |
700 |
|
|
(vi) |
Profit |
750 |
|
|
(vii) |
Net value added at factor cost |
2,000 |
|
Chapter: [0.02] National Income and Related Aggregates
Distinguish between “real” gross domestic product and “nominal” gross domestic product. Which of these is a better index of welfare of the people and why?
Chapter: [0.02] National Income and Related Aggregates
Distinguish between stocks and flows. Give two examples of each.
Chapter: [0.02] National Income and Related Aggregates
Explain the credit creation role of commercial banks with the help of a numerical example.
Chapter: [0.03] Money and Banking
From the data given below about an economy, calculate (a) investment expenditure and (b) consumption expenditure.
|
(i) |
Equilibrium level of income |
5,000 |
|
(ii) |
Autonomous consumption |
500 |
|
(iii) |
Marginal propensity to consume |
0.4 |
Chapter: [0.02] National Income and Related Aggregates
Explain the meaning of under-employment equilibrium. Explain two measures by which full-employment equilibrium can be reached.
Chapter: [0.04] Determination of Income and Employment [0.07] Employment: Growth, Informalisation and Other Issues
Calculate “Gross National Product at Market Price” from the following data:
|
S.No. |
Particulars |
(Rs in crores) |
|
|
(i) |
Compensation of employees |
2,000 |
|
|
(ii) |
Interest |
500 |
|
|
(iii) |
Rent |
700 |
|
|
(iv) |
Profits |
800 |
|
|
(v) |
Employer’s contribution to social security schemes |
200 |
|
|
(vi) |
Dividends |
300 |
|
|
(vii) |
Consumption of fixed capital |
100 |
|
|
(viii) |
Net indirect taxes |
250 |
|
|
(ix) |
Net exports |
70 |
|
|
(x) |
Net factor income to abroad |
150 |
|
|
(xi) |
Mixed income of self-employed |
1,500 |
|
Chapter: [0.02] National Income and Related Aggregates
Calculate “Gross National Disposable Income” from the following data:
|
S.No. |
Particulars |
(Rs in crores) |
|
|
(i) |
Net domestic product at factor cost |
3,000 |
|
|
(ii) |
Indirect taxes |
300 |
|
|
(iii) |
Net current transfers from rest of the world |
250 |
|
|
(iv) |
Current transfers from the government |
100 |
|
|
(v) |
Net factor income to abroad |
150 |
|
|
(vi) |
Consumption of fixed capital |
200 |
|
|
(vii) |
Subsidies |
100 |
|
Chapter: [0.02] National Income and Related Aggregates
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