M.A. (Semester IV) (CBCS) Examination, 2017
ECONOMICS (PAPER III)
MACRO ECONOMIC ANALYSIS
Day Date: Tuesday, 16-05-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory.
Figures to the right indicate full marks.
Draw diagrams as necessary.
Q.1 Rewrite the following sentences by choosing the correct
alternatives from those given below:
14
According to Baumols, the relationship between rate of interest
and demand for money is
Positive Neutral Inverse None of these
Money inflation means stage of
Constant price Decreasing prices
Increasing prices None of these.
Bank Rate is measure of Credit control
Quantitative Qualitative Selective None of these
Kinked Philips curve concept introduced by
Philips Friedman Pateinkin Tobin
Fisher's equations are not wrong but, it needs to be restate!
who said this statement?
Keynes Friedman Baumol J. B. say.
According to patein, at the full employment level in economy
there is a balance between
Demand for money supply of money.
Demand for commodities supply of commodities.
Demand for Labour supply of Labour.
All of above.
Natural rate of unemployment concept is put forth by
Philips Keynes Friedman Pateinkin.
In running inflation the annual growth rate of price is to be
4 to 10% 20 to 30%
Mundell Fleming model assumed
Normal wages and stable prices.
Abnormal wages and stable prices.
Normal wages and unstable prices.
None of these.
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10) Expansion monetary policy means
Increasing in supply of money or decreasing in rate of
interest.
Decreasing in supply of money or increasing in rate of
interest.
Increasing in supply of money or rate of interest.
None of these.
11) In India, inflation most adversely affects
The Govt. Pensioners The factory workers
The Traders The agricultural labourers.
12) J. M. Keynes has known as economist.
Classical Neo- classical Modern Nationalist
13) Who is introduced the monetarist approach to inflation?
Friedman Solow Tobin Philips.
14) According to 'inflation is purely monetary
phenomenon.'
Friedman Samuelson Solow Keynes.
Q.2 Write short answer [Any seven] 14
Who has explained that money is demanded as asset or
capital?
Which is the more significant motive that causes people to hold
money according to Boumol?
Philips curve reveals the relationship between which factors?
Which theory of trade cycle combines the multiplier and
acceleration principles?
What is real balance?
What is expectations?
Define natural rate of unemployment.
According to Tobin, demand for money is significantly
determined by which factor?
What is Bank Rate?
10) What is real rate of exchange?
Q.3 Write short notes (Any two) 14
Philips Curve.
Baumol's Inventory Theoretical Approach.
Classical approach to inflation.
Mundell Fleming model.
Q.4 Write answer any one of the following. 14
Discuss the various measures to control inflation.
OR
Discuss the Milton Friedman's approach to demand for
money.
Q.5 Explain the New Classical Approach towards macro economics
and policy implications.