LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

Date

Time

:

:

03/11/2012

1 :00 – 4 :00

Dept.No.

Max. : 100 Marks

B.Com. DEGREE EXAMINATION – COMMERCE

FIRST SEMESTER – NOVEMBER 2012

EC 1101 – GENERAL ECONOMICS

 

 

PART – A

Answer any FIVE questions in about 75 words each:                                                                            (5 x 4 = 20)

1. State Robbins scarcity definition.
2. Is market demand affected by price expectations? – Explain.
3. What are the FIVE types of price elasticities?
4. Distinguish between GNP and GDP.
5. Write a short note on Marginal Propensity to Consume.
6. Bring out the relationship between MC and AC curves.
7. Define and briefly explain the term ‘Velocity of Money’.

 

PART – B

Answer any FOUR questions in about 300 words each:                                                                   (4 x 10 = 40)

8. Explain the deductive and inductive methods and their uses.
9. Enumerate the merits and demerits of direct and indirect taxes.
10. ‘The demand curve need not always be a downward sloping curve’ – Explain.
11. Give an account of the various features of Perfect Competition.
12. Explain the ‘Objective Factors’ that influence the consumption function.
13. Explain the various features of labour as a factor of production.
14. Analyse the functions of money.

PART – C

Answer any TWO questions in about 900 words each:                                     (2 x 20 = 40)

15. Explain in detail how the Central Bank controls Money Supply.
16. Illustrate the long-run and short-run equilibrium in a Monopoly market.
17. Explain the various methods of measuring National Income and enumerate the difficulties in measuring National Income.
18. What are the causes of inflation and suggest remedies?

Go To Main Page

Latest Govt Job & Exam Updates:

View Full List ...