Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2016-2017
Date & Time: 16th April 2017, 12:30 pm
Duration: 3h
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A seller cannot influence the market price under (choose the correct alternative)
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) All of the above
Chapter:
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Chapter:
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
Chapter:
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
Chapter:
Explain the meaning of Budget set
Chapter: [5] Government Budget and the Economy
Answer the following question.
Explain the central problem for whom to produce.
Chapter: [1] Introduction
Give the meaning and characteristics of production possibility frontier.
Chapter: [1] Introduction
Explain the factor Input prices that can cause a change in supply.
Chapter:
Give the behaviour of marginal product and total product as more and more units of only one input are employed while keeping other inputs as constant.
Chapter:
Explain Perfect knowledge about the markets feature of perfect competition.
Chapter:
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Explain the meaning of diminishing marginal rate of substitution with the help of an example.
Chapter:
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Chapter:
Explain the meaning of excess demand and excess supply with the help of a schedule. Explain their effect on equilibrium price.
Chapter: [4] The Theory of the Firm Under Perfect Competition
Complete the following table:
| Output (Units) |
Average Fixed Cost (Rs ) |
Marginal Cost (Rs ) |
Average Variable Cost (Rs ) |
Average Cost (Rs ) |
| 0 | 30 | |||
| 1 | ... | ... | 30 | |
| 2 | 78 | ... | ... | ... |
| 3 | ... | 23 | ... | 10 |
| 4 | ... | ... | 23 | ... |
| 5 | 150 | ... | ... | 6 |
Chapter:
From the following table find out the level of output at which the producer will be in equilibrium (use marginal cost and marginal revenue approach).Give reasons for your answer.
| Output (Units) |
Total Revenue (Rs ) |
Total Cost (Rs ) |
| 1 | 16 | 14 |
| 2 | 30 | 27 |
| 3 | 42 | 39 |
| 4 | 52 | 49 |
| 5 | 60 | 61 |
Chapter:
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
Chapter:
What is meant by the depreciation of domestic currency?
Chapter:
Demand deposits include (choose the correct alternative)
(a) Saving account deposits and fixed deposits
(b) Saving account deposits and current account deposits
(c) Current account deposits and fixed deposits
(d) All types of deposits
Chapter:
If the marginal propensity to consume is greater than marginal propensity to save, the value of the multiplier will be (Choose the correct alternative)
(a) greater than 2
(b) less than 2
(c) equal to 2
(d) equal to 5
Chapter:
Distinguish between direct taxes and indirect taxes. Give an example of each
Chapter:
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Explain difficulty in storing wealth problem faced in the barter system of exchange
Chapter:
Explain the significance of 'medium of exchange' function of money
Chapter: [3] Money and Banking
Explain how government budget can be helpful in bringing economic stabilization in the economy.
Chapter: [5] Government Budget and the Economy
Explain bankers bank function of a Central bank.
Chapter:
Explain the process of credit creation by commercial banks.
Chapter:
An economy is in equilibrium. From the following data, calculate the marginal propensity to save:
1) Income = 10,000
2) Autonomous consumption = 500
3) Consumption expenditure = 8,000
Chapter:
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter:
Explain the precautions that are taken while estimating additional income by the value-added method.
Chapter: [2] National Income Accounting
Will the following be included in the national income of India? Give reasons for your answer
Financial assistance to flood victims
Chapter:
Will the following be included in the national income of India? Give reasons for your answer
Profit earned by the branches of a foreign bank in India
Chapter:
Will the following be included in the national income of India? Give reasons for your answer
Salaries of Indians working in the American Embassy in India
Chapter:
Calculate the (a) Net National product as markets price. and (b) Gross National Disposable Income:
| (Rs In crores) | |
| (i) Mixed income of self – employed | 8,000 |
| (ii) Rent | 400 |
| (iii) Profit | 900 |
| (iv) Dividend | 100 |
| (v) Interest | 500 |
| (vi) Mixed income of self- employed | 7,000 |
| (vii) Net factor income to abroad | 50 |
| (viii) Net export | 60 |
| (ix) Net indirect taxes | 300 |
| (x) Depreciation | 150 |
Chapter:
Distinguish between current account and capital account
Chapter:
Distinguish between an autonomous transaction and accommodating transactions of the balance of payments account.
Chapter:
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