LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A. DEGREE EXAMINATION – ECONOMICS
|
FIFTH SEMESTER – November 2008
EC 5504 – MACRO ECONOMICS – II
Date : 03-11-08 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART -A
Answer any FIVE questions in about 75 words each. (5×4 = 20 marks)
- What are the non-income factors which would shift the consumption
function upward according to Absolute Income Hypothesis ?
- Briefly state Schumpeter’s Innovation Theory.
- State the weakness of Hayek’s theory of trade cycle.
- What are the types of inflation classified on the basis of speed.
- State any four assumptions of Kaldor’s model of Distribution.
- Briefly bring out the distinguishing features of Harrod and Domar Models.
- State the major goals of Macro Economic Policy.
PART – B
Answer any FOUR questions in 250 words. (4×10 = 40 marks)
- Explain the two assumptions of James Dussenberry.
- Bring out the criticisms against Hawtrey’s theory of trade Cycle.
- Explain the concept of Inflationary Gap and the factors causing Inflationary Gap.
- Explain the Hayek’s Monetary Over Investment theory of Trade Cycle.
- Briefly explain Harrod’s Model of Growth.
- Bring out the effects of Inflation on Production and Distribution.
14.Explain the criticisms against Monetary Policy objective of price stability.
PART – C
Answer any Two questions in about 900 words. (2×20 = 40 marks)
- Explain Milton Friedman’s ‘Permanent income Hypothesis and make a
critical appraisal of the theory.
- Discuss Samuelson’s Model of Trade Cycle and point out its merits.
- Explain Demand-Pull and Cost-Push Inflation.
- Explain the growth Model of Kaldor clearly spelling out its content and
significance.
Latest Govt Job & Exam Updates: