Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2014-2015
Date: March 2015
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If Marginal Rate of Substitution is increasing throughout, the Indifference Curve will be: (Choose the correct alternative)
a. Downward sloping convex
b. Downward sloping concave
c. Downward sloping straight line
d. Upward sloping convex
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the meaning of Budget line.
Chapter: [0.02] Consumer Equilibrium and Demand
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
Chapter: [0.02] Consumer Equilibrium and Demand
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
Chapter: [0.02] Consumer Equilibrium and Demand
Giving reason comment on the shape of Production Possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 16 |
| 1 | 12 |
| 2 | 8 |
| 3 | 4 |
| 4 | 0 |
Chapter: [0.03] Producer Behaviour and Supply
What is likely to be the impact of "Make in India" appeal to the foreign investors by the Prime Minister of India, on the production possibilities frontier of India? Explain
Chapter: [0.03] Producer Behaviour and Supply
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain
Chapter: [0.04] Determination of Income and Employment [0.07] Employment: Growth, Informalisation and Other Issues
What is maximum price ceiling? Explain its implications.
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in an oligopoly market:
Non-price competition
Chapter: [0.04] Forms of Market and Price Determination
What is the behaviour of (a) Average Fixed Cost and (b) Average Variable Cost as more and more units of a good are produced?
Chapter: [0.03] Producer Behaviour and Supply
Define Average Revenue. Show that Average Revenue and Price are same.
Chapter: [0.03] Producer Behaviour and Supply
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A consumer spends Rs 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate the price elasticity of demand by the Percentage method.
Chapter: [0.02] Consumer Equilibrium and Demand
A market for a good is in equilibrium. There is simultaneous "increase" both in demand and supply of the good. Explain its effect on the market price
Chapter: [0.04] Forms of Market and Price Determination
Explain why will a producer not be in equilibrium if the conditions of equilibrium are not met.
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
A consumer consumes only two goods X and Y, both priced at Rs 2 per unit. If the consumer chooses a combination of the two goods with Marginal Rate of Substitution equal to 2, is the consumer in equilibrium? Why or why not? What will a rational consumer do in this situation? Explain.
Chapter: [0.02] Consumer Equilibrium and Demand
A consumer consumes only two goods X and Y whose prices are Rs 5 and Rs 4 respectively. If the consumer chooses a combination of the two goods with marginal utility of X equal to 4 and that of Y equal to 5, is the consumer in equilibrium? Why or why not? What will a rational consumer do in this situation? Use utility analysis
Chapter: [0.02] Consumer Equilibrium and Demand
Primary deficit in a government budget is : (Choose the correct alternative)
a. Revenue expenditure - Revenue receipts
b. Total expenditure - Total receipts
c. Revenue deficit - Interest payments
d. Fiscal deficit - Interest payments
Chapter: [0.05] Government Budget and the Economy
What is aggregate demand?
Chapter: [0.04] Determination of Income and Employment
If MPC = 1, the value of the multiplier is ______
0
1
Between 0 and 1
Infinity
Chapter: [0.04] Determination of Income and Employment
Other things remaining the same, when in a country the market price of the foreign currency falls, national income is likely (Choose the correct alternative)
a. to rise
b. to fall
c. to rise or to fall
d. to remain unaffected
Chapter: [0.06] Open Economy Macroeconomics
A direct tax is called direct because it is collected directly from ______.
The producers on goods produced
The sellers on goods sold
The buyers of goods
The income earners
Chapter: [0.05] Government Budget and the Economy
Where is 'borrowings from abroad' recorded in the Balance of Payments Accounts? Give reasons.
Chapter: [0.06] Open Economy Macroeconomics
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If the Real GDP is Rs 500 and Price Index (base = 100) is 125, calculate the Nominal GDP.
Chapter: [0.02] National Income and Related Aggregates
What are fixed and flexible exchange rates?
Chapter: [0.06] Open Economy Macroeconomics
Give meaning of managed floating exchange rate.
Chapter: [0.06] Open Economy Macroeconomics
An economy is in equilibrium. Calculate the Marginal Propensity to Save from the following:
National Income = 1000
Autonomous Consumption = 100
Investment = 120
Chapter: [0.04] Determination of Income and Employment
Explain bankers bank function of a Central bank.
Chapter: [0.03] Money and Banking
Explain the ‘bank of issue’ function of central bank.
Chapter: [0.03] Money and Banking
Currency is issued by the central bank, yet we say that commercial banks create money. Explain. How is this money creation by commercial banks likely to affect the national income? Explain
Chapter: [0.03] Money and Banking
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
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by a firm to a bank
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by a bank to an individual
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by an individual to a bank
Chapter: [0.02] National Income and Related Aggregates
Explain the concept of 'deficient demand' in macroeconomics.
Chapter: [0.04] Determination of Income and Employment
explain the role of Bank Rate in correcting deficient demand?
Chapter: [0.04] Determination of Income and Employment
What is 'excess demand'?
Chapter: [0.03] Money and Banking
Explain the role of 'Reverse Repo Rate' in removing it.
Chapter: [0.03] Money and Banking
Calculate 'Net National Product at Market Price' and 'Personal Income'.
| (Rs crore) | ||
| (i) | Transfer payments by government | 7 |
| (ii) | Government final consumption expenditure | 50 |
| (iii) | Net imports | -10 |
| (iv) | Net domestic fixed capital formation | 60 |
| (v) | Private final consumption expenditure | 300 |
| (vi) | Private income | 280 |
| (vii) | Net factor income to abroad | -5 |
| (viii) | Closing stock | 8 |
| (ix) | Opening stock | 8 |
| (x) | Depreciation | 12 |
| (xi) | Corporate tax | 60 |
| Xii | Retained earnings of corporatio | 20 |
Chapter: [0.02] National Income and Related Aggregates
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