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Friday, January 04, 2019

Dibrugarh University Arts Question Papers:ECONOMICS (Macroeconomics)' (May)-2012

Course: 201
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions

1. Choose the correct answer/Fill in the blanks: 1x8=8
  1. Net National Product (NNP) is
  1. GNP + Depreciation.
  2. GNP – Depreciation.
  3. GNP – Indirect Business Tax.
  4. GNP – Dividend + Subsidy.
  1. During inflation, price level ____.
(Falls/rises/remains constant)
  1. Which of the following index number is called ‘the ideal index number’?
  1. Laspeyer’s index number.
  2. Paasches’ index number.
  3. Fisher’s index number.
  4. Kelly’s index number.
  1. Marginal propensity to consume is
  1. Which of the following banks is termed as ‘the lender of the last resort’?
  1. Commercial Bank.
  2. Central Cooperative Bank.
  3. Central Bank.
  4. Regional Rural Bank.
  1. In India, the Regional Rural Banks were established in ____.
  1. The absolute advantage theory of International Trade was propounded by
  1. J. B. Say.
  2. J. S. Mill.
  3. David Ricardo.
  4. Adam Smith.
  1. The cash transaction approach to quantity theory of money was given by
  1. Keynes.
  2. Marshall.
  3. Robertson.
  4. Fisher.
2. Write short notes on any four (within 150 words each): 4x4=16
  1. Say’s law of market.
  2. Demand-pull and cost-pull inflation.
  3. Characteristics of macroeconomics.
  4. Open market operations.
  5. Purchasing power parity theory.
Answer the following questions (within 500 words each):
3. (a) What is National Income? What are the difficulties of estimating national income? Discuss briefly how national income statistics help in formulating plan, and policy making in a country. 2+5+5=12
(b) Explain the meaning with example of the following concepts: 3x4=12
  1. Gross National Product.
  2. Net National Product.
  3. National Income.
  4. Disposable Personal Income.
4. (a) Define money. Discuss the significance of money in modern economy. 3+8=11
(b) Explain critically the cash transactions approach to the quantity theory of money. 11
5. (a) Explain the process of credit creation by the commercial banks. 11
(b) State two differences between Central Bank and Commercial Bank. Explain the functions of the central bank. 2+9=11
6. (a) Illustrate diagrammatically the conceit of consumption function. Distinguish between average propensity to consume and marginal propensity to consume. 5+6=11
(b) Discuss the Keynesian theory of employment. What are its drawbacks? 8+3=11
7. (a) Explain with example the comparative advantage theory of International Trade. State its limitations.      9+2=11

(b) Distinguish between the Balance of Payments and Balance of Trade. Examine the measures for correcting disequilibrium in the Balance of Payments. 4+7=11

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