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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The demand of a commodity, when measured through the expenditure approach, is inelastic. A fall in its price will result in : (choose the correct alternative)
(a) No change in expenditure on it.
(b) Increase in expenditure on it.
(c) Decrease in expenditure on it.
(d) Anyone of the above.
Chapter: [0.02] Consumer Equilibrium and Demand
As we move along a downward sloping straight line demand curve from left to right, price
an elasticity of demand : (choose the correct alternative)
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
Chapter: [0.02] Consumer Equilibrium and Demand
Given the meaning of market demand.
Chapter: [0.02] Consumer Equilibrium and Demand
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
Chapter: [0.04] Forms of Market and Price Determination
Elaborate three main features of an oligopoly form of market.
Chapter: [0.04] Forms of Market and Price Determination
Distinguish between microeconomics and macroeconomics.
Chapter: [0.01] Introduction
State the meaning and properties of production possibilities frontier.
Chapter: [0.02] Consumer Equilibrium and Demand
Show that demand of a commodity is inversely related to its price. Explain with the help of utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Why is an indifference curve negatively sloped? Explain.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
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
Explain the geometric method of measuring price elasticity of supply. Use Diagram.
Chapter: [0.03] Producer Behaviour and Supply
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Explain the 'free entry and exit of firms' feature of monopolistic competition.
Chapter: [0.04] Forms of Market and Price Determination
When the price of a commodity X falls by 10 percent. Its demand rises from 150 units to 180
units. Calculate is price elasticity of demand. How much should be the percentage fall in its
price so that its demand rises from 150 to 210 units?
Chapter: [0.02] Consumer Equilibrium and Demand
Complete the following table:
| Output units | Total cost Rs | Average variable cost Rs | Marginal cost Rs | Average fixed cost Rs |
| 0 | 30 | |||
| 1 | - | - | 20 | - |
| 2 | 68 | - | - | - |
| 3 | 84 | 18 | - | - |
| 4 | - | - | 18 | - |
| 5 | 125 | 19 | - | 6 |
Chapter: [0.03] Producer Behaviour and Supply
Good Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the chain of effects of excess supply of a good on its equilibrium price
Chapter: [0.04] Forms of Market and Price Determination
Given below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is Rs12. Using marginal cost and marginal revenue approach, find out the level of equilibrium output. Give reasons for your answer
| Output (units) | 1 | 2 | 3 | 4 | 5 | 6 |
| Average Cost (Rs.) | 12 | 11 | 10 | 10 | 10.4 | 11 |
Chapter: [0.03] Producer Behaviour and Supply
The ratio of total deposits that a commercial bank has to keep with Reserve Bank of India is
called:( choose the correct alternative)
(a) Statutory liquidity ratio
(b) Deposit ratio
(c) Cash reserve ratio
(d) Legal reserve ratio
Chapter: [0.03] Money and Banking
Aggregate demand can be increased by ______
increasing bank rate
selling government securities by the Reserve Bank of India
increasing cash reserve ratio
None of the above
Chapter: [0.04] Determination of Income and Employment
What is involuntary unemployment?
Chapter: [0.04] Determination of Income and Employment
What is primary deficit?
Chapter: [0.05] Government Budget and the Economy
Give the meaning of balance of payments.
Chapter: [0.06] Open Economy Macroeconomics
Distinguish between final goods and intermediate goods. Give an example of each.
Chapter: [0.02] National Income and Related Aggregates
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Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter: [0.03] Money and Banking
State the meaning and components of the money supply.
Chapter: [0.03] Money and Banking
Explain the basis of classifying taxes into the direct and indirect tax. Give examples.
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 how 'Repo Rate' can be helpful in controlling credit creation.
Chapter: [0.03] Money and Banking
Explain how government budget can be used to influence the distribution of income?
Chapter: [0.05] Government Budget and the Economy
An economy is in equilibrium. From the following data about an economy calculate autonomous consumption.
1) Income = 500
2) Marginal propensity to save = 0.2
3) Investment expenditure = 800
Chapter: [0.04] Determination of Income and Employment
Why does the demand for foreign currency fall and supply rise when its price rises? Explain.
Chapter: [0.06] Open Economy Macroeconomics
Explain non-monetary exchanges as a limitation of using the gross domestic product as an index of the welfare of a country
Chapter: [0.02] National Income and Related Aggregates
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Profits earned by branches of country's bank in other countries
Chapter: [0.02] National Income and Related Aggregates
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Gifts are given by an employer to his employees on Independence Day
Chapter: [0.02] National Income and Related Aggregates
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Purchase of goods by foreign tourists
Chapter: [0.02] National Income and Related Aggregates
Calculate (1) net domestic product at factor cost and (2) gross national disposable income
| (Rs in crores) | ||
| 1 | Private final consumption expenditure | 8000 |
| 2 | Government final consumption expenditure | 1000 |
| 3 | Exports | 70 |
| 4 | Imports | 120 |
| 5 | Consumption of fixed capital | 60 |
| 6 | Gross domestic fixed capital formation | 500 |
| 7 | Change in stock | 100 |
| 8 | Factor income to abroad | 40 |
| 9 | Factor income from abroad | 90 |
| 10 | Indirect taxes | 700 |
| 11 | Subsidies | 50 |
| 12 | Net current transfers to abroad | (-) 30 |
| 13 |
Chapter: [0.02] National Income and Related Aggregates
Assuming that increase in investment is Rs1000 crore and marginal propensity to consume is 0.9, explain the working of the multiplier.
Chapter: [0.04] Determination of Income and Employment
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