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Monday, January 14, 2019

Dibrugarh University Arts Question Papers: ECONOMICS (Macroeconomics) May' 2017

Course: 201
Full marks: 80
Pass Marks: 32/24
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Choose the correct answer/Answer the following: 1x8=8
  1. GNP according to expenditure method is
  1. Continuous rise in price level is called
  1. Trade cycle.
  2. Deflation.
  3. Inflation.
  4. None of the above.
  1. Which of the following is not a function of central bank?
  1. Credit creation.
  2. Credit control.
  3. Monopoly of issue of currency.
  4. Bankers to the bank.
  1. Who propounded the formula of marginal propensity to consume?
  2. Write the formula of cash transaction approach theory of money.
  3. What is marginal efficiency of capital?
  4. When the WTO was established?
  5. What is real income?
2. Write short notes on any four (within 150 words each) from the following: 4x4=16
  1. Macroeconomics
  2. Marginal propensity to consume.
  3. Functions of central bank.
  4. Free trade vs. protection.
  5. Liquidity preference.
  6. 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
(b) Explain the difference between the following concepts: 3+3+3+3=12
  1. Gross national product and Net national product.
  2. National income at market price and National income at factor cost.
  3. Gross national income and Gross domestic income.
  4. 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
(b) Explain critically the Keynesian liquidity preference theory of money. 11
5. (a) Discuss classical theory of employment. 11
(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
(b) Explain how central bank controls credit created by commercial banks. 11
7. (a) What is exchange rate? Explain how exchange rate is determined under flexible exchange rate system. 2+9=11
(b) What is exchange control? Explain briefly the methods of exchange control. 2+9=11

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