Date: March 2012
Given the meaning of market demand.
Chapter: [0.02] Consumer Equilibrium and Demand
What is the behaviour of average fixed cost as output is increased? Why is it so?
Chapter: [0.03] Producer Behaviour and Supply
What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?
Chapter: [0.03] Producer Behaviour and Supply
What is a price taker firm?
Chapter: [0.04] Forms of Market and Price Determination
What is opportunity cost? Explain with the help of a numerical example.
Chapter: [0.01] Introduction [0.03] Producer Behaviour and Supply
Given the price of a good, how does a consumer decide as to how much of the good to buy?
Chapter: [0.02] Consumer Equilibrium and Demand
Draw Average Variable Cost, Average Total Cost ad Marginal Cost curves in a single diagram.
Chapter: [0.03] Producer Behaviour and Supply
An individual is both the owner and the manager of a shop taken on rent. Identify implicit cost and explicit cost from this information. Explain
Chapter: [0.03] Producer Behaviour and Supply
Explain ‘large number of buyers and sellers' features of a perfectly competitive market.
Chapter: [0.04] Forms of Market and Price Determination
Answer the following question.
Why are the firms said to be interdependent in an oligopoly market? Explain.
Chapter: [0.04] Forms of Market and Price Determination
Define an indifference curve.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain why an indifference curve is downward sloping from left to right.
Chapter: [0.02] Consumer Equilibrium and Demand
When price of good is Rs7 per unit a consumer buys 12 units. When price falls to Rs6 per unit he spends Rs72 on the good. Calculate price elasticity of demand by using the percentage method. Comment on the likely shape of demand curve based on this measure of elasticity.
Chapter: [0.02] Consumer Equilibrium and Demand
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Chapter: [0.03] Producer Behaviour and Supply
Explain how changes in prices of other products influence the supply of a given product.
Chapter: [0.04] Forms of Market and Price Determination
Explain how do the following influence demand for a good:
i. Rise in income of the consumer.
ii. Fall in prices of the related goods
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram.
Chapter: [0.03] Producer Behaviour and Supply
A market for a good is in equilibrium. There is simultaneous "increase" both in demand and supply of the good. Explain its effect on the market price
Chapter: [0.04] Forms of Market and Price Determination
Market for a good is in equilibrium. There is simultaneous "decrease" both in demand and supply of the good. Explain its effect on market price
Chapter: [0.04] Forms of Market and Price Determination
Define stock variable
Chapter: [0.02] National Income and Related Aggregates
Define capital goods.
Chapter: [0.02] National Income and Related Aggregates
What are demand deposits?
Chapter: [0.03] Money and Banking
Define a Tax.
Chapter: [0.05] Government Budget and the Economy
Give meaning of managed floating exchange rate.
Chapter: [0.06] Open Economy Macroeconomics
Calculate Gross Value Added at Factor Cost:
| i | Units of output sold (units) | 1,000 |
| ii | Price per unit of output (Rs) | 30 |
| iii. | Depreciation (Rs) | 1,000 |
| iv. | Intermediate cost (Rs) | 12,000 |
| v. | Closing stock (Rs) | 3,000 |
| vi. | Opening stock (Rs) | 2,000 |
| vii. | Excise (Rs) | 2,500 |
| viii. | Sales tax (Rs) | 3,500 |
Chapter: [0.02] National Income and Related Aggregates
Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter: [0.04] Determination of Income and Employment
Find national income from the following:
Autonomous consumption = Rs100
Marginal propensity to consume = 0.80
Investment = Rs 50
Chapter: [0.02] National Income and Related Aggregates
Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each.
Chapter: [0.05] Government Budget and the Economy
Explain the role of Government budget in allocation of resources.
Chapter: [0.05] Government Budget and the Economy
Giving reason explain how should the following be treated in estimating national income:
i. Expenditure on fertilizers by a farmer.
ii. Purchase of tractor by a farmer.
Chapter: [0.02] National Income and Related Aggregates
Explain the components of Legal reserve Ratio.
Chapter: [0.03] Money and Banking
Explain bankers bank function of a Central bank.
Chapter: [0.03] Money and Banking
Explain 'Revenue Deficit in a Government budget? What does it indicate?
Chapter: [0.05] Government Budget and the Economy
Find out (a) national income and (b) net national disposable income:
S. No. Items (Rs crores)
i. Factor income from abroad 15
ii. Private final consumption expenditure 600
iii. Consumption of fixed capital 50
iv. Government final consumption expenditure 200
v. Net current transfers to abroad (-) 5
vi. Net domestic fixed capital formation 110
vii. Net factor income to abroad 10
viii. Net imports (-) 20
ix. Net indirect tax 70
x. Change in stocks (-) 10
Chapter: [0.02] National Income and Related Aggregates
Explain the concept of 'excess demand' in macroeconomics. Also explain the role of 'open market operation' in correcting it.
Chapter: [0.04] Determination of Income and Employment
Explain the concept of 'deficient demand' in macroeconomics.
Chapter: [0.04] Determination of Income and Employment
explain the role of Bank Rate in correcting deficient demand?
Chapter: [0.04] Determination of Income and Employment
Explain the distinction between autonomous and accommodating transactions in balance of payments. Also explain the concept of balance of payments 'deficit' in this context
Chapter: [0.06] Open Economy Macroeconomics
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