LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Sc./B.COM. DEGREE EXAMINATION – STATISTICS /COMMERCE

RF 7

SECOND SEMESTER – APRIL 2006

                                                       EC 2103 – GENERAL ECONOMICS

(Also equivalent to EC 3103/ECO 103)

 

 

Date & Time : 27-04-2006/1.00-4.00 P.M.   Dept. No.                                                       Max. : 100 Marks

PART – A

Answer any FIVE questions in about 75 words each.       (5 ´ 4 = 20 Marks)

1. Distinguish between cardinal utility analysis and ordinal utility analysis?
2. What do you understand by Oligopoly?
3. What is meant by effective demand?
4. Write short notes on Average Propensity to Consume and Marginal Propensity to Consume.
5. What are the components of high-powered money?
6. Distinguish between fees and license fees.
7. Define Budget.

PART – B

Answer any FOUR questions in about 250 words each.   (4 ´ 10 = 40 Marks)

8. Briefly explain the various concepts of national income analysis.
9. Analyse the innovation theory of profit.
10. Bring out the implications of Keynes psychological law of consumption.
11. Distinguish between (a) Capital and investment (b) Financial investment and Real investment (c) Autonomous investment and Induced investment.
12. Explain the determinants of money supply.
13. Elaborate the various credit control methods.
14. Elucidate the various types of budget. What are the qualities of a good budget?

PART – C

Answer any TWO questions in about 900 words each.     (2 ´ 20 = 40 Marks)

15. State and explain the price-output determination under perfect competition
16. Briefly explain the law of variable proportion.
17. Explain the various factors influencing consumption expenditure.
18. Trace the evolution of money and also explain the functions of money.

 

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