LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A. DEGREE EXAMINATION – ECONOMICS
FIFTH SEMESTER – APRIL 2011
EC 5504 – MACRO ECONOMICS – II
Date : 11-04-2011 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART – A
Answer any FIVE questions in about 75 words 5 x 4 = 20
- Explain the term Absolute Income Hypothesis.
- Distinguish between multiplier and accelerator.
- What are the phases of Trade cycle?
- Explain the concept ‘cost push inflation’
- Give a brief account of the theory of innovation.
- Explain the concepts growth and stability.
- What are the factors determining income and saving.
Answer any FOUR questions in about 250 words 4 x 10 = 40
- Highlight the superiority of Relative Income Hypothesis.
- Write a note on Hawtrey’s theory of trade cycle.
- Explain the working of income multiplier.
- Describe the various effects of inflation.
- Explain the factors causing changes in general price level.
- Distinguish between actual growth rate and warranted growth rate.
- Explain the various objectives of fiscal policy.
Answer any TWO question in about 900 words 2 x 20 = 40
- Examine Friedman’s permanent income hypothesis.
- Evaluate Kaldor’s theory of Trade Cycle.
- Explain Harrod – Domar’s growth model.
- Critically examine the role of monetary and fiscal policies in maintaining economic growth with stability in India.
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