LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Sc./B.COM. DEGREE EXAMINATION – STATISTICS /COMMERCE
SECOND SEMESTER – APRIL 2006
EC 2103 – GENERAL ECONOMICS
(Also equivalent to EC 3103/ECO 103)
Date & Time : 27-04-2006/1.00-4.00 P.M. Dept. No. Max. : 100 Marks
PART – A
Answer any FIVE questions in about 75 words each. (5 ´ 4 = 20 Marks)
- Distinguish between cardinal utility analysis and ordinal utility analysis?
- What do you understand by Oligopoly?
- What is meant by effective demand?
- Write short notes on Average Propensity to Consume and Marginal Propensity to Consume.
- What are the components of high-powered money?
- Distinguish between fees and license fees.
- Define Budget.
PART – B
Answer any FOUR questions in about 250 words each. (4 ´ 10 = 40 Marks)
- Briefly explain the various concepts of national income analysis.
- Analyse the innovation theory of profit.
- Bring out the implications of Keynes psychological law of consumption.
- Distinguish between (a) Capital and investment (b) Financial investment and Real investment (c) Autonomous investment and Induced investment.
- Explain the determinants of money supply.
- Elaborate the various credit control methods.
- Elucidate the various types of budget. What are the qualities of a good budget?
PART – C
Answer any TWO questions in about 900 words each. (2 ´ 20 = 40 Marks)
- State and explain the price-output determination under perfect competition
- Briefly explain the law of variable proportion.
- Explain the various factors influencing consumption expenditure.
- Trace the evolution of money and also explain the functions of money.