M.A. (Semester IV) Examination, 2017
ECONOMICS (PAPER III)
MACRO ECONOMIC ANALYSIS
Day Date: Tuesday, 16-05-2017 Max. Marks: 50
Time: 10.30 AM to 12.30 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:
10
Money inflation means stage of
Constant Price Decreasing Prices
Increasing Prices None of these
According to Philips curve analysis; there is ____relationship
between the rate of unemployment and the rate of increase in
money wages.
Increasing Decreasing Inverse None of these
Kinked Philips curve concept introduced by
Philips Friedman Pateinkin Tobin
Inventory theoretical approach to demand for money is put forth
by
Tobin Baumols Friedman Samuelson
Bank Rate is measure of Credit control
Quantitative Qualitative Selective None of these
Post-Keynesian approach to demand for money is related to

Baumol, Tobin and Pateinkin Baumol, Philips and Hicks
Baumol, Keynes and Friedman Baumol, Friedman, Marshall
According to Pateinkin, at the full employment level in economy
there is a balance between.
Demand for commodities Supply of commodities
Demand for labour Supply of labour
Demand for money Supply of money
All above
According to Boumols, there is ____relationship between rate
of interest and demand for money.
Positive Negative Inverse None of these
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The concept of natural rate of unemployment is put forth by
Keynes Friedman
Tobin Philips
10) J. M. Keynes is known as ____economist.
Classical Neo-classical
Nationalist None of these
Q.2 Answer the following [Any Four] 08
What is inflationary gap?
What is meant by natural rate of unemployment?
What are expectations?
Define fiscal policy.
What is macro economic analysis?
What is meant by demand pull inflation?
Q. 3 Write short notes: [Any Four] 12
Tobin's model of demand for money.
Real Balance Effect.
The BP Schedule for open economy.
Policy implications of new classical approach.
Assumptions of the Mundell-Fleming model.
Classical approach to inflation.
Q.4 Discuss in detail on Philips Curve analysis. 10
OR
Discuss the Milton Friedman's approach to demand for
money.
Q.5 Discuss the various measures to control inflation. 10