1. Choose the correct answer/ Answer the following: 1x8=8
- Net National Product (NNP) is
- GNP – Depreciation.
- GNP – Indirect taxes.
- GNP – Subsidies.
- None of the above.
- Which of the following is not a function of Central Bank?
- To issue currency notes.
- To create credit.
- To control credit.
- To act as the banker of the banks.
- If the value of marginal propensity to consume is 0.80, then the value of marginal propensity to save will be
- 0.40
- 0.30
- 0.20
- 0.10
- Mention one fiscal measure to correct unfavourable balance of payments.
- The World Trade Organization was started in
- 1959.
- 1995.
- 1996.
- 1997.
- The absolute income theory of consumption was advanced by
- Keynes.
- Fisher.
- Friedman.
- Modigliani.
- What is meant by ‘stagflation’?
- Which of the following banks is known as ‘lender of the last resort’?
- Commercial Bank.
- Central Bank.
- NABARD.
- Cooperative Bank.
2. Write short notes on any four (within 150 words each); 4x4=16
- Nature of macroeconomics.
- Index numbers as a measure of value of money.
- Permanent income hypothesis.
- Bank rate policy.
- International Monetary Fund (IMF)
Answer the following questions (within 500 words each):
3. (a) What is national income? How far is it important in modern economic analysis? Discuss the limitations of estimating national income. 2+5+5=12
Or
(b) Define national income. Discuss various methods of computing national income and explain their merits and demerits. 2+5+5=12
4. (a) What do you mean by ‘value of money’? Critically discuss the cash balance approach to the quantity of theory of money. 1+10=11
Or
(b) Discuss Keynesian theory of money and price. What are its drawbacks? 8+3=11
5. (a) Explain the process of credit creation by the commercial banks with the help of example. 11
Or
(b) Write short notes on the following: 5+6=11
- Open-market operations.
- Selective credit control method.
6. (a) Explain diagrammatically the meaning of consumption function. Discuss the objective factors determining consumption function. 5+6=11
Or
(b) Explain the classical theory of employment and income. Mention its drawbacks. 7+4=11
Also Read: Dibrugarh University Question Papers
7. (a) Distinguish between free trade and protection. Give five arguments in favour of free trade. 6+5=11
Or
(b) What do you mean by disequilibrium in balance of payments? What are the causes of this disequilibrium? Discuss the monetary measures to correct the disequilibrium in balance of payments. 2+4+5=11
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