Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2016-2017
Date & Time: 16th April 2017, 12:30 pm
Duration: 3h
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A seller cannot influence the market price under (choose the correct alternative)
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) All of the above
Chapter: [0.04] Forms of Market and Price Determination
Features of Monopolistic Competition.
Chapter: [0.04] Forms of Market and Price Determination
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
Chapter: [0.02] Consumer Equilibrium and Demand
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Chapter: [0.02] Consumer Equilibrium and Demand
Define an indifference curve.
Chapter: [0.02] Consumer Equilibrium and Demand
Give the meaning and characteristics of production possibility frontier.
Chapter: [0.01] Introduction
Explain the problem of what to produce.
Chapter: [0.02] Consumer Equilibrium and Demand
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the meaning of Budget set
Chapter: [0.05] Government Budget and the Economy
Explain the meaning of Budget line.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain Perfect knowledge about the markets feature of perfect competition.
Chapter: [0.04] Forms of Market and Price Determination
Explain the meaning of diminishing marginal rate of substitution with the help of an example.
Chapter: [0.02] Consumer Equilibrium and Demand
Define market supply.
Chapter: [0.03] Producer Behaviour and Supply
Explain the factor Input prices that can cause a change in supply.
Chapter: [0.03] Producer Behaviour and Supply
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Give the behaviour of marginal product and total product as more and more units of only one input are employed while keeping other inputs as constant.
Chapter: [0.03] Producer Behaviour and Supply
From the following data find out the level of output that will give the producer maximum profit (Use marginal cost and marginal revenue approach,) Give reasons for your answer
| Output (units) | 1 | 2 | 3 | 4 | 5 |
| Total Cost (Rs) | 9 | 17 | 24 | 29 | 36 |
| Total Revenue (Rs) | 11 | 20 | 27 | 32 | 35 |
Chapter: [0.03] Producer Behaviour and Supply
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Chapter: [0.04] Forms of Market and Price Determination
Explain the meaning of excess demand and excess supply with the help of a schedule. Explain their effect on equilibrium price.
Chapter: [0.04] Forms of Market and Price Determination
Explain 'Revenue Deficit in a Government budget? What does it indicate?
Chapter: [0.05] Government Budget and the Economy
If the marginal propensity to consume is greater than marginal propensity to save, the value of the multiplier will be (Choose the correct alternative)
(a) greater than 2
(b) less than 2
(c) equal to 2
(d) equal to 5
Chapter: [0.04] Determination of Income and Employment
Demand deposits include (choose the correct alternative)
(a) Saving account deposits and fixed deposits
(b) Saving account deposits and current account deposits
(c) Current account deposits and fixed deposits
(d) All types of deposits
Chapter: [0.02] Consumer Equilibrium and Demand
What is meant by the depreciation of domestic currency?
Chapter: [0.06] Open Economy Macroeconomics
Define marginal propensity to save.
Chapter: [0.04] Determination of Income and Employment
Distinguish between stock and flows. Give an example of each.
Chapter: [0.02] National Income and Related Aggregates
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Explain difficulty in storing wealth problem faced in the barter system of exchange
Chapter: [0.03] Money and Banking
Explain the significance of 'medium of exchange' function of money
Chapter: [0.03] Money and Banking
Distinguish between direct taxes and indirect taxes. Give an example of each
Chapter: [0.05] Government Budget and the Economy
An economy is in equilibrium. From the following data, calculate the marginal propensity to save:
1) Income = 10,000
2) Autonomous consumption = 500
3) Consumption expenditure = 8,000
Chapter: [0.04] Determination of Income and Employment
Explain bankers bank function of a Central bank.
Chapter: [0.03] Money and Banking
Explain the process of credit creation by commercial banks.
Chapter: [0.03] Money and Banking
What are non-debt creating capital receipts? Give two examples of such receipts
Chapter: [0.05] Government Budget and the Economy
Distinguish between current account and capital account
Chapter: [0.06] Open Economy Macroeconomics
Distinguish between an autonomous transaction and accommodating transactions of the balance of payments account.
Chapter: [0.06] Open Economy Macroeconomics
Explain the precautions that should be taken while estimating national income by expenditure method.
Chapter: [0.02] National Income and Related Aggregates
Will the following be included in the domestic product of India? Give reasons for your answer.
Profit earned by foreign companies in India
Chapter: [0.06] Open Economy Macroeconomics
Will the following be included in the domestic product of India? Give reasons for your answer.
Salaries of Indians working in the Russian Embassy in India
Chapter: [0.06] Open Economy Macroeconomics
Will the following be included in the domestic product of India? Give reasons for your answer.
Profit earned by a branch of State Bank of India in Japan
Chapter: [0.06] Open Economy Macroeconomics
Calculate the (a) Gross National Product at market price, and (b) Net National Disposable Income
| (Rs In crores) | |
| (i) Compensation of employee | 2,500 |
| (ii) Profit | 700 |
| (iii) Mixed income of self- employed | 7,500 |
| (iv) Government final consumption expenditure | 3,00 |
| (v) Rent | 400 |
| (vi) Interest | 350 |
| (vii) Net factor income from abroad | 50 |
| (viii) Net current transfer to abroad | 100 |
| (ix) Net indirect taxes | 150 |
| (x) Depreciation | 70 |
| (xi) Net export | 40 |
Chapter: [0.02] National Income and Related Aggregates
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter: [0.04] Determination of Income and Employment
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