Loyola College B.A. Economics Nov 2008 Macro Economics – II (2) Question Paper PDF Download

LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

TA 10

 

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)

 

  1. What are the non-income factors which would shift the consumption

function upward according to Absolute Income Hypothesis ?

  1. Briefly state Schumpeter’s Innovation Theory.
  2. State the weakness of Hayek’s theory of trade cycle.
  3. What are the types of inflation classified on the basis of speed.
  4. State any four assumptions of Kaldor’s model of Distribution.
  5. Briefly bring out the distinguishing features of Harrod and Domar Models.
  6. State the major goals of Macro Economic Policy.

 

PART – B

            Answer any FOUR questions in 250 words.                          (4×10 = 40 marks)

 

  1. Explain the two assumptions of James Dussenberry.
  2. Bring out the criticisms against Hawtrey’s theory of trade Cycle.
  3. Explain the concept of Inflationary Gap and the factors causing Inflationary Gap.
  4. Explain the Hayek’s Monetary Over Investment theory of Trade Cycle.
  5. Briefly explain Harrod’s Model of Growth.
  6. 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)

 

  1. Explain Milton Friedman’s ‘Permanent income Hypothesis and make a

critical appraisal of the theory.

  1. Discuss Samuelson’s Model of Trade Cycle and point out its merits.
  2. Explain Demand-Pull and Cost-Push Inflation.
  3. Explain the growth Model of Kaldor clearly spelling out its content and

significance.

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