M.A. (Semester III) (CBCS) Examination Mar/Apr-2018
Economics
MACRO ECONOMIC ANALYSIS
Time 2 ½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Multiple choice questions:
14
The total income earned in any given year by owners of productive resources is measured
Personal income
Disposable income
Gross national income
National income
Which of the following directly increases the GNP?
A rise in the market prices
A surplus in budget
An increase in investment
A deficit in budget
The IS curve illustrates that when income increases, the
Interest rate must rise to restore equilibrium in the good market.
Interest rate must fall to restore equilibrium in asset market.
Interest rate must rise to restore equilibrium in asset market.
Interest rate must fall to restore equilibrium in good market.
Precautionary motive demand for money depends upon income, was put forward by
Keynes
Boumol
Tobin
None of these
An increase in money supply leads to
Rightward shift of IS curve
Leftward shift of IS curve
Leftward shift of LM curve
Rightward shift of LM curve
When the general level of prices is rising, we call that
Deflation
Inflation
Elevation
None of the above
Inflation is mostly harmful to which one of the following
Debtors
Creditors
Business class
Holder of real assets
Q.2
Write short notes. (Any 4 out of
14
GNP at factors cost
Approach of Baumol toward the demand for money
LM curve
Liquidity trap
Cost-push inflation
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SLR-HZ-11
Q.3
Short answer type question Any 2 out of
14
Explain the social income accounting method.
What is IS curve? How is it derived from good market equilibrium?
Explain briefly the different phases of business cycles.
Q.4
Descriptive types question with internal choice.( Any 1 out of)
14
Explain the circular flow of income in two, three and four sector of economy.
OR
Explain Friedman's theory of demand for money.
Q.5
What is meant by Phillips curve? What is its shape in the long run?
14