Arts (English Medium)
Commerce (English Medium)
Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
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: [0.04] Forms of Market and Price Determination
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: [0.04] Forms of Market and Price Determination
What is the relation between marginal cost and average cost when average cost is rising?
Chapter: [0.03] Producer Behaviour and Supply
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: [0.03] Producer Behaviour and Supply
When does 'decrease' in supply take place?
Chapter: [0.03] Producer Behaviour and Supply
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: [0.02] Consumer Equilibrium and Demand
What is maximum price ceiling? Explain its implications.
Chapter: [0.04] Forms of Market and Price Determination
Explain the chain effects, if the prevailing market price is below the equilibrium price.
Chapter: [0.04] Forms of Market and Price Determination
A consumer consumes only two goods X and Y. Marginal utility of each is 2. The price per unit of X and Y is Re 1 and Rs 2 respectively. Is the consumer in equilibrium? What will be the further reaction of the consumer? Explain.
Chapter: [0.02] Consumer Equilibrium and Demand
Define production function.
Chapter: [0.03] Producer Behaviour and Supply
Distinguish between short run and long run production functions
Chapter: [0.03] Producer Behaviour and Supply
Distinguish between fixed and variable costs. Give one example of each.
Chapter: [0.03] Producer Behaviour and Supply
When price of a good raises from Rs 12 per unit to Rs 15 per unit the producer supplies 50 per cent more output. What is the price elasticity of supply? Calculate.
Chapter: [0.03] Producer Behaviour and Supply
Explain the effect of Change in own price
Chapter: [0.04] Forms of Market and Price Determination
Explain the effect of change in price of substitute on demand of a good.
Chapter: [0.04] Forms of Market and Price Determination
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in a perfectly competitive market:
Freedom of entry and exit to firms
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
Chapter: [0.04] Forms of Market and Price Determination
Explain the implications of the following in an oligopoly market:
Non-price competition
Chapter: [0.04] Forms of Market and Price Determination
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: [0.01] Introduction
Explain the distinction between “change in quantity supplied’ and “change in supply”. Use diagram.
Chapter: [0.03] Producer Behaviour and Supply
Fiscal deficit equals :
(a) Interest payments
(b) Borrowings
(c) Interest payments less borrowing
(d) Borrowing less interest payments
Chapter: [0.05] Government Budget and the Economy
Foreign exchange transactions dependent on other foreign exchange transactions are called ______.
Current account transactions
Capital account transactions
Autonomous transactions
Accommodating transactions
Chapter: [0.06] Open Economy Macroeconomics
Define stocks.
Chapter: [0.02] National Income and Related Aggregates
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: [0.02] National Income and Related Aggregates
Explain 'Revenue Deficit in a Government budget? What does it indicate?
Chapter: [0.05] Government Budget and the Economy
Distinguish between marginal propensity to consume and average propensity to consume. Give a numerical example.
Chapter: [0.04] Determination of Income and Employment
Explain the role of taxation in reducing excess demand.
Chapter: [0.04] Determination of Income and Employment
In an economy an increase in investment by Rs 100 crore led to ‘increase’ in national by Rs 1000 crore. Find marginal propensity to consume.
Chapter: [0.04] Determination of Income and Employment
Find gross value added at market price
| (Rs lakh) | ||
| (i) | Depreciation | 20 |
| (ii) | Domestic sales | 200 |
| (iii) | Net change in stocks | (-) 10 |
| (iv) | Exports | 10 |
| (v) | Single use producer goods | 120 |
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
Explain the ‘unit of accounts’ function of money. How has it solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Explain how 'margin requirements' are helpful in controlling credit creation?
Chapter: [0.03] Money and Banking
Government insure expenditure to popularize yoga among the masses. Analyses its impact on gross domestic product and welfare of the people.
Chapter: [0.02] National Income and Related Aggregates
(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: [0.06] Open Economy Macroeconomics
What is government budget?
Chapter: [0.05] Government Budget and the Economy
Explain how taxes and subsides can be used to influence allocation of resources.
Chapter: [0.05] Government Budget and the Economy
What are revenue receipts in a government budget?
Chapter: [0.05] Government Budget and the Economy
Explain how government budget can used to bring in price stability in the economy.
Chapter: [0.05] Government Budget and the Economy
Find national product at market price and personal disposable income:
| (Rs crore) | ||
| (i) | Personal taxes | 200 |
| (ii) | Wages and salaries | 1200 |
| (iii) | Rent | 50 |
| (iv) | Undistributed profit | 300 |
| (v) | Corporate tax | 200 |
| (vi) | Private income | 2000 |
| (vii) | Interest | 400 |
| (viii) | Net indirect tax | 300 |
| (ix) | Net factor income to abroad | 20 |
| (x) | Profit | 500 |
| (xi) | Social security contribution by employers | 250 |
Chapter: [0.02] National Income and Related Aggregates
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
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