LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

FIFTH SEMESTER – APRIL 2011

EC 5504 – MACRO ECONOMICS – II

 

 

 

Date : 11-04-2011              Dept. No.                                                    Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer any FIVE questions in about 75 words                                                 5 x 4 = 20

 

1. Explain the term Absolute Income Hypothesis.
2. Distinguish between multiplier and accelerator.
3. What are the phases of Trade cycle?
4. Explain the concept ‘cost push inflation’
5. Give a brief account of the theory of innovation.
6. Explain the concepts growth and stability.
7. What are the factors determining income and saving.

 

 

PART  B

 

Answer any FOUR questions in about 250 words                                                         4 x 10 = 40

 

8. Highlight the superiority of Relative Income Hypothesis.
9. Write a note on Hawtrey’s theory of trade cycle.
10. Explain the working of income multiplier.
11. Describe the various effects of inflation.
12. Explain the factors causing changes in general price level.
13. Distinguish between actual growth rate and warranted growth rate.
14. Explain the various objectives of fiscal policy.

 

 

PART  C

 

Answer any TWO question in about 900 words                                                            2 x 20 = 40

 

15. Examine Friedman’s permanent income hypothesis.
16. Evaluate Kaldor’s theory of Trade Cycle.
17. Explain Harrod – Domar’s growth model.
18. Critically examine the role of monetary and fiscal policies in maintaining economic growth with stability in India.

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