LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

RF 54

SECOND SEMESTER – APRIL 2007

EC 2500 – MICRO ECONOMICS – II

 

 

 

Date & Time: 20/04/2007 / 1:00 – 4:00 Dept. No.                                                Max. : 100 Marks

 

 

 

PART A

 

ANSWER ANY FIVE QUESTIONS IN ABOUT 75 WORDS EACH

 

1. Define production possibility curve
2. What are the demand and supply components of Loanable funds theory?
3. List out the factors determining the real wages of the worker
4. Explain the concept of Liquidity Trap
5. Write a brief note on Indifference curve and Isoquants
6. Distinguish between Economic Rent and Quasi Rent
7. Explain the term offer curve

PART B

 

ANSWER ANY  FOUR QUESTIONS IN ABOUT  250 WORDS EACH

 

8. “Investment and Saving is a function of rate of interest”- justify
9. What is profit according to Schumpeter?
10. Examine the role of Price Mechanism in a  Mixed Economy
11. Discuss the absolute cost advantage
12. State and explain the Wage Fund Theory and indicate its drawbacks
13. Explain the factors determining gains from trade
14. Highlight the short comings of Marginal Productivity theory of distribution

 

PART C

 

ANSWER ANY TWO QUESTIONS IN ABOUT 900 WORDS EACH

 

15. “ Interest is the reward for parting with liquidity” Elucidate
16. Examine the Modern theory of International Trade
17. State and Explain the Marginal conditions that satisfied the Pareto Optimality
18. “Rent is that portion of the produce of the earth which is paid to the landlord…………Illustrate

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