Macro Economics Analysis And Policy Regular Economics Paper-II Previous Year Question Paper Year 2006 : IInd Year

SECTION ‘A’

Q. 1. What is a consumption function ? Explain the determination of equilibrium level of national income using consumption-investment approach. 5 10
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Q. 2. What is marginal efficiency of capital ? How does marginal efficiency of capital (MEC) determine the level of investment ?
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Q. 3. Define inflation and deflation. The effect of inflation on the different sections of society are not same. Discuss. 8, 7
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Q. 4. Critically examine the Quantity Theory of Money as given by Irving Fisher.
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Q. 5. (a) Comment on the application of Keynesian Theory to a developing country.
(b) Complete the table:

Image no.1
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SECTION ‘B’

Q. 6. What are the functions of a commercial bank ? How do banks create credit ?
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Q. 7. What are the causes of growth of public expenditure in a developing country ? Discuss its effects on production and distribution. 9,6
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Q. 8. (a) Explain the merits and demerits of direct and indirect taxes.
(b) What are the characteristics of a good tax system 9, 6
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Q. 9. What are the main objectives of fiscal policy ? What are the problems faced in a developing country in achieving those objectives? 10, 5
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Q. 10. Write short notes : 8, 7
(a) Functions of Reserve Bank of India;
(b) Recommendations of Eleventh Finance Commission.
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