LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

BC 15

FOURTH SEMESTER – APRIL 2008

EC 4503 – MACRO ECONOMICS – I

 

 

 

Date : 26/04/2008                Dept. No.                                       Max. : 100 Marks

Time : 9:00 – 12:00

PART – A

 

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

 

1. Distinguish between Micro and Macro economics.
2. What is meant by stock and flow relationship?
3. Differentiate GDP form GNP.
4. Explain the term Social Accounting.
5. What is meant by Consumption Function?
6. Explain Aggregate Supply Function.
7. What is meant by Marginal Efficiency of Capital?

PART – B

Answer any FOUR questions in about 250 words each                             (4 x 10 = 40 marks)

 

1. Explain the nature and scope of Macro Economics.
2. Examine Static, Comparative Static, and Dynamic Analysis.
3. Explain the phenomenon of circular flow of Income.
4. Critically examine Says Law of Market.
5. Explain the Components of Aggregate demand function.
6. Distinguish between Multiplier and Accelerator.
7. Briefly state IS – LM analysis.

PART – C

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

 

1. Define National Income and examine various methods of computing National Income along with its limitations.
2. Evaluate Classical Theory of Income and Employment.
3. Explain Keynesian theory of Income Determination.

Examine liquidity preference Theory of Interest.

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