BA 1st Semester Economics(H2) Question Paper for Honours Course 2014

BA 1st Semester Economics(H2) Question Paper for Honours Course 2014

TDC Odd Semester Exam., 2014 

ECONOMICS 

(Honours) 

(1st Semester) 

Paper No. : ECOH-1O 

(Macroeconomics__I) 

Full Marks: 50 

Pa.c Marks: 17 

Time:2 hours 

The figures in the margin indicate full marks for the questions 

Answer five questions, taking one from each Unit 

UNIT—I 

1. (a) Define macroeconomics. 3
(b) Discuss the interdependence between microeconomics and macroeconomics. 4
(c) Why do we need a separate study of macroeconomics? 3


2. (a) Explain macrostatics, comparative macrostatics and macrodynamics. Among these, which is more significant and why? 3
(b) what are the basic differences between stock and flow concepts? Give one economic example of each concept. 3

UNIT—II

3. (a) Define national income.
(b) Distinguish between national income at current Prices and national income at constant prices.
(C) Discuss the interrelationship among the three measures ot estimating national income in the presence of government sector amid international transaction.

4. (a) what are the various methods of measurement of national income?
(b) Give an outline or the steps involved in the measurement or national income by value-added method.
(c) what precautions are to be taken while calculating national income by value- added method?

UNIT—III

5. (a) Point out three postulates made by the classical economists.
(b) State and explain the classical theory of output and employment determination. On what grounds does Keynes attack it?

6. (a) what is Say’s law?
(b) Explain Say’s law in the context of a barter economy and a monetized economy.
(c) Do you agree with Say’s law? Give reasons.

UNIT—IV 

7. (a) write and interpret the equation for Fisher’s quantity theory or money. what
) are the assumptions of Fisher’s quantity theory or money?
(1) Examine Milton Friedman’s restatement of the quantity theory or money.

8. (a) what is effective demand? What are its constituent parts?
(b) Explain the structure and features of the money market in a developing country like India.

UNIT—V 

9. (a) Explain briefly the relationship between average propensity to consume (APC) and marginal propensity to consume (MPC).
(b) State three properties of MPC.
(c) What are the subjective and objective factors that determine the propensity to consume?

10. (a) What is accelerator?
(b) Explain the interaction between multiplier and accelerator.
(c) Discuss briefly the relative income hypothesis of James Duesenberry.