Commerce (English Medium)
Arts (English Medium)
Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
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There is inverse relation between price and demand for the product of a firm under:
(choose the correct alternative)
(a) Monopoly only
(b) Monopolistic competition only
(c) Both under monopoly and monopolistic competition
(d) Perfect competition only
Chapter:
Homogenous product’ is a characteristic of : (choose the correct alternative)
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
Chapter:
Suppose total revenue is rising at a constant rate as more units of a commodity are sold, marginal revenue would be:
(a) Greater than average revenue
(b) Equal to average revenue
(c) Less than average revenue
(d) Rising
Chapter:
What is the relation between marginal cost and average cost when average cost is constant?
Chapter:
What is maximum price ceiling? Explain its implications.
Chapter: [4] The Theory of the Firm Under Perfect Competition
Explain the chain effects, if the prevailing market price is below the equilibrium price.
Chapter: [4] The Theory of the Firm Under Perfect Competition
A consumer consumes only two goods X and Y. If marginal utilities of X and Y are 4 and 5 respectively, and if price of X is Rs 5 per unit and that of Y is Rs 4 per unit is the consumer in equilibrium? What will be further reaction of the consumer? Explain.
Chapter:
Price elasticity of demand of goods X is -2 and goods Y is -3. Which of the two goods is more price elastic and why?
Chapter:
Price elasticity of supply of a good is 2. A producer supplies 100 units of a good at a price of Rs 20 per unit. At what price will he supply 80 units?
Chapter:
What happens to the demand of a good when consumer's income changes? Explain
Chapter:
Define production function.
Chapter: [3] Production and Costs
Distinguish between short-run and long-run production functions.
Chapter: [3] Production and Costs
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Distinguish between fixed and variable costs. Give one example of each.
Chapter:
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Chapter:
Explain the implications of the following in a perfectly competitive market:
Freedom of entry and exit to firms
Chapter:
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
Chapter:
Explain the implications of the following in an oligopoly market:
Non-price competition
Chapter:
Explain the distinction between “change in quantity supplied’ and “change in supply”. Use diagram.
Chapter:
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter:
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
Chapter: [1] Introduction
Foreign exchange transactions dependent on other foreign exchange transactions are called ______.
Current account transactions
Capital account transactions
Autonomous transactions
Accommodating transactions
Chapter:
Fiscal deficit equals :
(a) Interest payments
(b) Borrowings
(c) Interest payments less borrowing
(d) Borrowing less interest payments
Chapter: [5] Government Budget and the Economy
Depreciation of fixed capital assets refers to :
(a) Normal wear and tear
(b) Foreseen obsolescence
(c) Normal wear and tear and foreseen obsolescence
(d) Unforeseen obsolescence.
Chapter:
What are revenue receipts in a government budget?
Chapter:
Suppose marginal propensity to consume is 0.8. How much increase in investment is required to increase national income by Rs. 2000 crore? Calculate.
Chapter:
Find net value added at market price:
| (Rs lakh) | ||
| (i) | Fixed capital good with a life span of 5 years | 15 |
| (ii) | Raw materials | 6 |
| (iii) | Sales | 25 |
| (iv) | Net change in stock | (-)2 |
| (v) | Taxes on production | 1 |
Chapter:
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Distinguish between marginal propensity to consume and average propensity to consume. Give a numerical example.
Chapter:
Explain the role of taxation in reducing excess demand.
Chapter:
Explain how ‘bank rate' is helpful in controlling credit creation?
Chapter:
Government insure expenditure to popularize yoga among the masses. Analyses its impact on gross domestic product and welfare of the people.
Chapter: [2] National Income Accounting
Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter:
Explain the ‘unit of accounts’ function of money. How has it solved the related problem created by barter?
Chapter: [3] Money and Banking
Find national income and private income:
| (Rs crore) | ||
| (i) | Rent | 200 |
| (ii) | Net current transfer to abroad | 10 |
| (iii) | National debt interest | 60 |
| (iv) | Corporate tax | 100 |
| (v) | Composition of employees | 900 |
| (vi) | Current transfers from government | 150 |
| (vii) | Interest | 400 |
| (viii) | Interest | 50 |
| (ix) | Undistributed profits | 250 |
| (x) | Net factor income to abroad | (-)10 |
| (xi) | Income accruing to government | 120 |
Chapter: [2] National Income Accounting
(a) In which sub-account and on which side of balance of payments account will foreign investments in India be recorded? Given reasons.
(b)What will be the effect of foreign investments in India on exchange rate? Explain.
Chapter:
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter:
Explain how taxes and subsides can be used to influence allocation of resources.
Chapter:
What are revenue receipts in a government budget?
Chapter:
Explain how government budget can used to bring in price stability in the economy.
Chapter: [5] Government Budget and the Economy
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