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Saturday, December 29, 2018

Dibrugarh University Arts Question Papers:ECONOMICS (Major) (History of Economic Thoughts) ' November-2015

Course: 503
(History of Economic Thoughts)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions

1. Answer/Choose the correct answer: 1x8=8
  1. Who among the following was the originator of the phrase ‘iron law of wage’?
  1. David Ricardo.
  2. Adam Smith.
  3. Karl Marx.
  4. F. Lassalle.
  1. “The poor are themselves the cause of their own poverty.” This statement was of
  1. J. S. Mill.
  2. T. R. Malthus.
  3. Sismondi.
  4. J. M. Keynes.
  1. State the size of investment multiplier when MPC is 0.9.
  2. Who wrote the book, Economics of Welfare?
  3. Why is quasi-rent zero in the long-run period?
  4. The mercantilists were in favour of
  1. Favourable balance of trade.
  2. Protection in trade.
  3. Earning precious metals from abroad.
  4. All of the above.
  1. Who gave the first scientific treatment to the general equilibrium analysis?
  2. Mention one criticism of the Keynesian theory of liquidity preference.
2. Write short notes on any four of the following: (within 150 words each): 4x4=16
  1. Labour theory of value.
  2. The representative firm.
  3. The theory of glut.
  4. Concept of drain theory.
  5. Policy prescription of Keynesian economics.
  6. Marginalism.
Answer the following questions (within 500 words each):
3. (a) Explain the distinctions between physiocracy and mercantilism. 11
(b) Discuss briefly the contributions of Thomas Robert Malthus. Why is he called pessimist? 6+5=11
4. (a) Give an account of critical and positive ideas of historical school of economic thought. 11
(b) Discuss the ‘theory of surplus value’ as explained by Karl Marx. Point out its weaknesses. 8+3=11
5. (a) Explain the ideas of Carl Menger to the history of economic thought. 11
(b) Write a critical note on the contributions of Alfred Marshall to the history of economic thought. 11
6. (a) Examine the relevance of Keynesian economics to the underdeveloped countries. 12
(b) Discuss whether Keynesian economics is revolutionary or evolutionary. Why is he called a depression economist? 9+3=12
7. (a) Explain the economic ideas of M. K. Gandhi and examine their relevance in present-day economics. 7+4
(b) Highlight the major contributions of D. R. Gadgil and Gyan Chand to economic thought. 6+5


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