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)
- Describe the concept of stocks and flows in macro economics.
- Analyse the components of GNP.
- What is wage-price flexibility?
- Define effective demand.
- Why does IS curve slope downwards?
- Distinguish the concepts of ex-ante and ex-post savings.
- What is disposable income?
PART – B
Answer any FOUR questions in about 300 words each: (4×10=40)
- Distinguish between micro and macro economics.
- Explain the circular flow of income.
- Discuss Say’s Law of Market.
- Explain the marginal efficiency of capital.
- Analyse the effects of multiplier.
- Discuss Keynes’ money-wage rigidity model.
- 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)
- Explain the nature and scope of macro economics.
- Discuss the different methods of measuring national income.
- Analyse the liquidity preference theory of interest.
Explain IS-LM model.
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