M.A. (Semester III) (CBCS) Examination, 2017
ECONOMICS (PAPER IV)
PUBLIC ECONOMICS
Day Date: Friday, 05-05-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct answer: 14
The book 'Wealth of Nations' is written by
Adam Smith Joan Keynes
David Ricardo Thomas Malthus
Classical economists have advocated policy regarding
the role of Government in economic development.
Lasses Fair Intervention
Participation None of the above
Mixed economy means existence of sector in the
economy.
Private sector Public Sector
Both a b None of the above
Government has to play role in the process of economic
development.
Minimum Less
Vital None of the above
The principle of exclusion exits in the market of goods.
Private Public
Social Merit
The goods which satisfies the public needs is known as
goods.
Private Public
Social Merit
The goods which satisfies the social needs is known as
goods.
Private Public
Social Merit
The concept of Informational Asymmetry is propounded by
Akerloff Spenze
Stieglitz All the above
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SLR-P-130
'Economic Theory of Democracy' is propounded by
Anthony Dawns Lindhal
Wagner Peacock-Wiseman
10) 'Theory of Club goods' is propounded by
Adolph Wagner Peacock-Wiseman
James Buchanan Athony Dawns
11) Keynes emphasizes on factors for the stabilization of
the economy.
Monetary Fiscal
Technical None of the above
12) The burden of tax falls on a particular group of people or a
particular sector is known as tax burden.
Monetary Real General Relative
13) is the cause of shifting of tax burden.
Impact of tax Incidence of tax
Rate of tax None of the above
14) The burden of tax in terms of money is known as tax
burden.
Monetary Real General Relative
Q.2 Write short Answer: (Any seven) 14
What are private goods?
Explain the externalities of public good?
State any two functions of the Government in economic
development.
Explain the public mechanism for allocation of resources.
Explain the stabilization policy in inflation.
What are the instruments of stabilization policy?
What are social goals?
What is regional imbalalnce?
What is meant by infrastructural facilities?
10) What is poverty?
Q. 3 Write short notes: (Any two) 14
Informational Asymmetry
Problems in allocation of resources
Burden of tax
Laffer curve
Q.4 Explain the Keynesian view regarding the role of the
Government in economic development.
14
OR
What are club goods? Explain the characteristics of club
goods.
14
Q.5 Explain the role of the Government in mixed economy. 14