Commerce (English Medium)
Arts (English Medium)
Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
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‘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
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 producer starts the business in the building owned by him and borrows money for running it. Identify implicit cost.
Chapter: [0.03] Producer Behaviour and Supply
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 price-maker firm?
Chapter: [0.04] Forms of Market and Price Determination
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
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. Marginal rate of substitution is 3 and per unit prices of X and Y is Rs 4 and Rs 2 respectively. Is the consumer in equilibrium? What will be the further reaction of the consumer? Give reasons
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
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
A producer supplies 100 units of a good at a price of Rs 20 per unit. Price elasticity of supply is 2. At what price will he supply 50 units? Calculate
Chapter: [0.03] Producer Behaviour and Supply
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Define demand. Name the factors affecting market demand.
Chapter: [0.02] Consumer Equilibrium and Demand
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 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 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
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
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
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
Define Gross Investment.
Chapter: [0.02] National Income and Related Aggregates
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 capital expenditure?
Chapter: [0.05] Government Budget and the Economy
Distinguish between marginal propensity to consume and average propensity to consume. Give a numerical example.
Chapter: [0.04] Determination of Income and Employment
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Explain how government spending can be helpful in removing deficient demand.
Chapter: [0.04] Determination of Income and Employment
An economy is in equilibrium. Find autonomous consumption expenditure:
National Income =1,600
Investment Expenditure = 300
Marginal Propensity to Consume= 0.8
Chapter: [0.04] Determination of Income and Employment
If nominal income is Rs 600 and price index is 100, find real income.
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
Explain bankers bank function of a 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
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
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
Find National Income and Personal Disposable Income:
| (Rs crore) | ||
| (i) | Undistributed profits | 70 |
| (ii) | Gross National Disposable Income | 1,000 |
| (iii) | Net current transfers to abroad | 20 |
| (iv) | Consumption of fixed capital | 100 |
| (v) | Corporation tax | 200 |
| (vi) | Indirect tax | 250 |
| (vii) | Current transfers from government | 50 |
| (viii) | Subsidies | 60 |
| (ix) | Private income | 800 |
| (x) | Personal tax | 150 |
Chapter: [0.02] National Income and Related Aggregates
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
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