LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

RF 8

SECOND SEMESTER – APRIL 2006

                                                        EC 2500 – MICRO ECONOMICS – II

(Also equivalent to ECO501/E 217)

 

 

Date & Time : 24-04-2006/1.00-4.00 P.M.   Dept. No.                                                       Max. : 100 Marks

PART – A

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

1. What are functional and personal distributions?
2. Explain the concept of optimum tariff.
3. When can trade be possible between two countries?
4. What is terms of trade?
5. Write a short note on Pareto optimum?
6. Explain the concept of Quasi rent.
7. What do you mean by transfer earnings?

PART – B

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

8. Bring out the need for a separate theory of factor pricing?
9. Explain the Ricardian theory of rent?
10. Discuss the absolute cost advantage.
11. How does liquidity preference theory of interest have an edge over earlier theories?
12. Bring out the gains arising out of international trade.
13. Explain the nexus between collective bargaining and wage determination.
14. Discuss the role of prices in market economy.

PART – C

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

15. Critically analyse the Classical theories of international trade.
16. Explain the factor endowment theory with necessary illustration.
17. Discuss the case for and against free trade.

Explain the marginal productivity theory of factor pricing under competitive market conditions.

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