Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2013-2014
Date: March 2014
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What is imperfect oligopoly?
Chapter: [0.04] Forms of Market and Price Determination
Define market supply.
Chapter: [0.03] Producer Behaviour and Supply
What is meant by inelastic demand?
Chapter: [0.02] Consumer Equilibrium and Demand
The government has started promoting foreign capital. What is its economic value in the context of Production Possibilities Frontier?
Chapter: [0.06] Open Economy Macroeconomics
Define marginal revenue.
Chapter: [0.03] Producer Behaviour and Supply
Explain how technological progress is a determinant of supply of a good by a firm.
Chapter: [0.03] Producer Behaviour and Supply
Explain how input prices are a determinant of supply of a good by a firm.
Chapter: [0.03] Producer Behaviour and Supply
Why is Production Possibilities Curve concave? Explain
Chapter: [0.03] Producer Behaviour and Supply
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
Chapter: [0.02] Consumer Equilibrium and Demand
Why is the number of firms small in oligopoly? Explain.
Chapter: [0.04] Forms of Market and Price Determination
Define Average Revenue. Show that Average Revenue and Price are same.
Chapter: [0.03] Producer Behaviour and Supply
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Chapter: [0.03] Producer Behaviour and Supply
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A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X rises, the consumer buys less of good X. Use utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Given the price of a good, how does a consumer decide as to how much of the good to buy?
Chapter: [0.02] Consumer Equilibrium and Demand
How does change in the price of a substitute good affect the demand of the given good? Explain with the help of an example.
Chapter: [0.02] Consumer Equilibrium and Demand
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain why an indifference curve is downward sloping from left to right.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain why is an indifference curve is Convex.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the concept of 'Marginal Rate of Substitution' with the help of a numerical example. Also, explain its behaviour along an indifference curve
Chapter: [0.02] Consumer Equilibrium and Demand
From the following information about a firm, find the firm's equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also, find profit at this output
| Output (units) | Total Revenue (Rs) |
Total Cost (Rs) |
| 1 | 6 | 7 |
| 2 | 12 | 13 |
| 3 | 18 | 17 |
| 4 | 24 | 23 |
| 5 | 30 | 31 |
Chapter: [0.03] Producer Behaviour and Supply
Give the meaning of full employment.
Chapter: [0.04] Determination of Income and Employment
What is floating exchange rate?
Chapter: [0.06] Open Economy Macroeconomics
What are time deposits?
Chapter: [0.03] Money and Banking
Explain the concept of Deflationary Gap
Chapter: [0.04] Determination of Income and Employment
Define fiscal deficit
Chapter: [0.05] Government Budget and the Economy
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Explain the ‘unit of accounts’ 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
Distinguish between 'autonomous' and accommodating' Balance of Payments transactions.
Chapter: [0.06] Open Economy Macroeconomics
When foreign exchange rate in a country is on the rise, what impact is it likely to have on imports and how?
Chapter: [0.06] Open Economy Macroeconomics
Define externalities. Give an example of negative externality. What is its impact on welfare?
Chapter: [0.02] National Income and Related Aggregates
Is the following a revenue receipt or a capital receipt in the context of government budget and why?
Tax receipts
Chapter: [0.05] Government Budget and the Economy
Is the following a revenue receipt or a capital receipt in the context of government budget and why?
Disinvestment
Chapter: [0.05] Government Budget and the Economy
Tax rates on higher income group have been increased. Which economic value does it reflect? Explain.
Chapter: [0.05] Government Budget and the Economy
Explain "Banker to the Government" function of the Central Bank.
Chapter: [0.03] Money and Banking
Explain bankers bank function of a Central bank.
Chapter: [0.03] Money and Banking
Calculate investment expenditure from the following date about an economy which is in equilibrium :
National Income = 1000
Marginal propensity to save = 0.20
Autonomous consumption expenditure = 100
Chapter: [0.05] Government Budget and the Economy
When is an economy in equilibrium?
Chapter: [0.04] Determination of Income and Employment
Explain with the help of Saving and Investment functions. Also, explain the changes that take place in an economy when the economy is not in equilibrium. Use diagram
Chapter: [0.04] Determination of Income and Employment
Given saving curve, derive consumption curve and state the steps in doing so. Use diagram.
Chapter: [0.03] Producer Behaviour and Supply
Calculate 'National Income' and 'Net National Disposable Income' from the following
| (Rs in Arab) | ||
| 1 | Net change in stock | 50 |
| 2 | Government final consumption expenditure | 100 |
| 3 | Net current transfers to abroad | 30 |
| 4 | Gross domestic fixed capital formation | 200 |
| 5 | Private final consumption expenditure | 500 |
| 6 | Net imports | 40 |
| 7 | Depreciation | 70 |
| 8 | Net factor income to abroad | (-)10 |
| 9 | Net indirect tax | 120 |
| 10 | Net capital transfers to abroad | 25 |
Chapter: [0.02] National Income and Related Aggregates
How should the following be treated in estimating the national income of a country? You must give a reason for your answer.
Taking care of aged parents
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how should the following be treated in the estimation of national income:
Payment of corporate tax by a firm
Chapter: [0.02] National Income and Related Aggregates
How should the following be treated in estimating the national income of a country? You must give the reason for your answer
Expenditure on providing police services by the government
Chapter: [0.02] National Income and Related Aggregates
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