Commerce (English Medium)
Arts (English Medium)
Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
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Marginal revenue of a firm is constant throughout under : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. All the above
Chapter: [0.03] Producer Behaviour and Supply
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
Chapter: [0.04] Forms of Market and Price Determination
A firm is able to sell more quantity of a good only by lowering the price. The firm’s marginal revenue, as he goes on selling, would 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
What is a price taker firm?
Chapter: [0.04] Forms of Market and Price Determination
A farmer invests his own saving in doing farmings but hires labour to do work. Identify implicit cost.
Chapter: [0.03] Producer Behaviour and Supply
What is minimum price ceiling? Explain its implications.
Chapter: [0.04] Forms of Market and Price Determination
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
A consumer consumes only two goods X and Y. The Marginal Rate of Substitution is 2. Prices per unit of X and Y are Rs 5 and Rs 4 respectively. Is consumer in equilibrium? What will be the further reaction of the consumer? Give reasons.
Chapter: [0.02] Consumer Equilibrium and Demand
Price elasticity of demand for the two goods X and Y are zero and (–) 1 respectively. Which of the two is more elastic and why?
Chapter: [0.02] Consumer Equilibrium and Demand
When price of a good falls from Rs 20 to Rs 10 per unit, producer reduces supply from 100 units to 50 units. Calculate price elasticity of supply.
Chapter: [0.03] Producer Behaviour and Supply
Explain the effect of change in prices of the related goods on demand for the given good.
Chapter: [0.02] Consumer Equilibrium and Demand
What type of production function is this in which only one input is increased and others kept constant? State the behaviour of total product in this production function.
Chapter: [0.03] Producer Behaviour and Supply
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Define cost. State the behaviour of (a) Total Fixed Cost and (b) Total Variable Cost as output is increased.
Chapter: [0.03] Producer Behaviour and Supply
Explain the implications of the following : Product differentiation in monopolistic 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
Answer the following question.
Why are the firms said to be interdependent in an oligopoly market? Explain.
Chapter: [0.04] Forms of Market and Price Determination
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 difference between “Shift of Supply Curve” and “Movement along Supply Curve”. State one factor responsible for each. Use diagrams.
Chapter: [0.03] Producer Behaviour and Supply
A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the concepts of Opportunity Cost and Marginal Rate of Transformation using a production possibility schedule based on the assumption that no resource is equally efficient in production of all goods.
Chapter: [0.01] Introduction [0.03] Producer Behaviour and Supply
Balance of Payments ‘deficit’ is the excess of: (choose the correct alternative)
a. Current account payments over current account receipts.
b. Capital account payments over capital account receipts.
c. Autonomous payments over autonomous receipts.
d. Accommodating payments over a accommodating receipts.
Chapter: [0.06] Open Economy Macroeconomics
Disinvestment by government means: (choose the correct alternative)
a. Selling of its fixed capital assets
b. Selling of shares of public enterprises held by it.
c. Selling of its buildings
d. All the above
Chapter: [0.05] Government Budget and the Economy
Unforseen obsolescence of fixed capital assets during production is: (Choose the correct alternative)
a. Consumption of fixed capital
b. Capital loss
c. Income loss
d. None of the above
Chapter: [0.02] National Income and Related Aggregates
What is revenue expenditure?
Chapter: [0.05] Government Budget and the Economy
Define Gross Investment.
Chapter: [0.02] National Income and Related Aggregates
An economy is in equilibrium. Find marginal propensity to consume :
Autonomous consumption
Expenditure = 100
Investment expenditure = 100
National Income = 2,000
Chapter: [0.04] Determination of Income and Employment
Given nominal income to be Rs 375 and price index 125, calculate real income.
Chapter: [0.02] National Income and Related Aggregates
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Distinguish between marginal propensity to consume and average propensity to consume. Give a numerical example.
Chapter: [0.04] Determination of Income and Employment
Explain how government spending can be helpful in removing deficient demand.
Chapter: [0.04] Determination of Income and Employment
Explain "Banker to the Government" function of the Central Bank.
Chapter: [0.03] Money and Banking
Government spends on child immunization programme. Analyse its impact on Gross Domestic Product and welfare of the people.
Chapter: [0.02] National Income and Related Aggregates
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
Find Gross Domestic Product at Factor Cost and Personal Disposable Income
| (Rs crore) | ||
| (i) | Personal tax | 100 |
| (ii) | Net National Disposable Income | 800 |
| (iii) | Corporation tax | 50 |
| (iv) | Net factor income of abroad | (-)10 |
| (v) | Retained income | 200 |
| (vi) | Indirect tax | 170 |
| (vii) | Privet income | 600 |
| (viii) | Subsidy | 30 |
| (ix) | Consumption of fixed capital | 60 |
| (x) | Net current transfer from abroad | 10 |
Chapter: [0.02] National Income and Related Aggregates
Indian investors borrow from abroad. Answer the following:
a. In which sub-account and on which side of the Balance of Payments Account will this borrowing be recorded? Give reason.
b. Explain what is the impact of this borrowing on exchange rate.
Chapter: [0.06] Open Economy Macroeconomics
Derive the two alternative conditions of expressing national income equilibrium. Show these equilibrium conditions on a single diagram.
Chapter: [0.04] Determination of Income and Employment
What are revenue receipts in a government budget?
Chapter: [0.05] Government Budget and the Economy
Explain the role of government budget in bringing stability in the economy.
Chapter: [0.05] Government Budget and the Economy
What is government budget?
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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