LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A.

RF 46

DEGREE EXAMINATION –ECONOMICS

FOURTH SEMESTER – APRIL 2007

EC 4500 – MACRO ECONOMIC THEORY

 

 

Date & Time: 21/04/2007 / 9:00 – 12:00          Dept. No.                                                     Max. : 100 Marks

 

 

Part – A                                                             5 * 4 = 20

 

Answer any FIVE Questions with not exceeding 75 words each.

 

1. Define Macroeconomics.
2. Distinguish between static and dynamic analysis.
3. What do you mean by effective demand?
4. What is natural rate of unemployment?
5. Define capital-output ratio.
6. What are the different phases of trade cycle?
7. What is rate of economic growth and how does it differ from equilibrium growth rate?

 

 

Part – B                                                          4 * 10 = 40

 

Answer any FOUR Questions with not exceeding 150 words each.

 

1. Explain the various methods of estimating national income? Point out its imperfections.
2. Explain the circular flow of economic activity in a simple economy.
3. Do you agree that wage-cut will solve the unemployment problem?
4. Explain the factors determining consumption expenditure in the economy.
5. Explain the concepts of MEC and identify the factors affecting it.
6. Describe and distinguish between Demand-pull and Cost-push inflation.
7. Explain the Hick’s theory of trade cycle.

 

 

Part – C                                                          2 * 20 = 40

 

Answer any TWO Questions with not exceeding 300 words each.

 

 

1. State and criticize Say’s Law of Market and bring out its main implications.
2. Critically examine the General Equilibrium Model.
3. Analyse the Keynesian theory of liquidity preference.
4. Examine the Kaldor’s growth model and why does it often referred as a basic Keynesian model.

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