LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

FOURTH SEMESTER – NOVEMBER 2012

EC 4503/ 4500 – MACRO ECONOMICS – I

 

 

 

Date : 03/11/2012             Dept. No.                                       Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A                  

 

Answer any FIVE questions in about 75 words each:                                                           (5×4=20)

1. Describe the concept of stocks and flows in macro economics.
2. Analyse the components of GNP.
3. What is wage-price flexibility?
4. Define effective demand.
5. Why does IS curve slope downwards?

6. Distinguish the concepts of ex-ante and ex-post savings.

1. What is disposable income?

PART – B                  

Answer any FOUR questions in about 300 words each:                                                       (4×10=40)

1. Distinguish between micro and macro economics.
2. Explain the circular flow of income.
3. Discuss Say’s Law of Market.
4. Explain the marginal efficiency of capital.
5. Analyse the effects of multiplier.
6. Discuss Keynes’ money-wage rigidity model.
7. Discuss how the consumption function relates the amount of

consumption to the level of income.

 

PART – C                  

 

Answer any TWO questions in about 900 words each:                                                        (2×20=40)

1. Explain the nature and scope of macro economics.
2. Discuss the different methods of measuring national income.
3. Analyse the liquidity preference theory of interest.

Explain IS-LM model.

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