1. Choose the correct answer/Answer the following: 1x8=8
- GNP according to expenditure method is
- Continuous rise in price level is called
- Trade cycle.
- Deflation.
- Inflation.
- None of the above.
- Which of the following is not a function of central bank?
- Credit creation.
- Credit control.
- Monopoly of issue of currency.
- Bankers to the bank.
- Who propounded the formula of marginal propensity to consume?
- Write the formula of cash transaction approach theory of money.
- What is marginal efficiency of capital?
- When the WTO was established?
- What is real income?
2. Write short notes on any four (within 150 words each) from the following: 4x4=16
- Macroeconomics
- Marginal propensity to consume.
- Functions of central bank.
- Free trade vs. protection.
- Liquidity preference.
- International monetary fund. (IMF)
Answer the following questions (within 500 words each):
3. (a) Define national income. Mention the methods of calculating national income.
Explain the limitations of calculating national income. 2+3+7=12
Explain the limitations of calculating national income. 2+3+7=12
Or
(b) Explain the difference between the following concepts: 3+3+3+3=12
- Gross national product and Net national product.
- National income at market price and National income at factor cost.
- Gross national income and Gross domestic income.
- Personal income and Disposable income.
4. (a) What is inflation? Explain different causes of inflation. Distinguish between demand-pull inflation and cost-push inflation. 2+7+2=11
Or
(b) Explain critically the Keynesian liquidity preference theory of money. 11
5. (a) Discuss classical theory of employment. 11
Or
(b) What is consumption function? Explain permanent income hypothesis. 2+9=11
6. (a) Explain the multiple credit creation process of commercial bank with suitable examples. 11
Or
(b) Explain how central bank controls credit created by commercial banks. 11
Also Read: Dibrugarh University Question Papers
7. (a) What is exchange rate? Explain how exchange rate is determined under flexible exchange rate system. 2+9=11
Or
(b) What is exchange control? Explain briefly the methods of exchange control. 2+9=11
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