LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A., DEGREE EXAMINATION – ECONOMICS
FIFTH SEMESTER – NOVEMBER 2012
EC 5504 – MACRO ECONOMICS – II
Date : 01-11-2012 Dept. No. Max. : 100 Marks
Time : 9.00 – 12.00
PART – A
Answer any FIVE questions in about 75 words each: (5 x 4 = 20 Marks)
- Define Relative Income Hypothesis.
- Explain the term ‘Recovery’.
- What is Accelerator?
- Explain Cost Push inflation.
- List out the effects of inflation.
- Briefly explain Kaldor’s model of income distribution.
- Define economic stability.
PART – B
Answer any FOUR questions in about 250 words each: (4 X 10 = 40 Marks)
- Explain Absolute Income Hypothesis.
- Discuss Schumpeter’s Trade Cycle theory.
- Explain the principle of Multiplier.
- Examine the causes of inflation.
- Analyse Harrod-Domar model of growth.
- Explain the fiscal policy measures available to maintain economic stability.
- Discuss the effectiveness of open market operations.
PART – C
Answer any TWO questions in about 900 words each: (2 X 20 = 40 Marks)
- Critically evaluate Permanent Income Hypothesis.
- Elucidate Hicks’ model of Trade Cycle.
- Trace the effects and the remedial measures for controlling inflation.
Analyse the usefulness of fiscal policy measures in maintaining economic growth.
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