N A L A N D A O P E N U N I V E R S I T Y
M.A. Economics, Part-I
PAPER-II
(Macro Economics)
Annual Examination, 2018
Time: 3 Hours Full Marks: 80
Answer any Five Questions. All questions carry equal marks.
1. Discuss the circular flow of income in a two sector economy.
2. Give a brief account of different forms of National Accounting.
3. Discuss Keynes' Psychological law of consumption.
4. Explain marginal efficiency of capital and its impact of investment.
5. Discuss the concept of demand for money propounded by Keynes.
6. Critically evaluate Cambridge version of the quantity theory of money.
7. Discuss process of credit creation by Commercial Bank.
8. Examine quantitative methods of credit control by Central Bank.
9. Critically discuss crisis in Keynesian Economics.
10. Explain relationship between unemployment and inflation with the help of Phillips curve. Is it
perfect