Eec-11 Eng

No.
of Printed Pages : 4 I EEC-111
BACHELOR'S DEGREE PROGRAMME

("4 Term-End Examination
June, 2016
eNt
C ELECTIVE COURSE : ECONOMICS
EEC-11 : FUNDAMENTALS OF ECONOMICS
Time : 3 hours Maximum Marks : 100

Note : Answer questions from all sections as per instructions.
SECTION - A
Attempt any two questions from this section in

about 500 words each : 2x20=40
1. Define an indifference curve. What are its
properties ? Explain consumer's equilibrium with
the help of indifference curves.
2. Discuss the concept of Marginal Propensity to

Consume (MPC). How is it related with
Multiplier ? Why does marginal propensity to
consume decline with increase in income ?
3. Explain the concept of balance of payments. What

are its components ? Explain why balance of
payments always balanced.
4. What do you mean by demand for money ?

Describe different motives for holding money as
propounded by Keynes.
EEC-11 1 P.T.O.
SECTION - B
Attempt any four questions from this section in

5. "In the real life, the conditions of perfect
competition rarely exist. In fact, there are various
market imperfections that prevail". In the light
of this statement, bring out the important features
of the most prevalent market structure.
6. Explain how wage rate is determined under

marginal productivity theory.
7. Explain the theory of comparative cost advantage.
8. What is National Income ? How is national

income in India estimated ?
9. Explain the relationship between average cost and

marginal cost. Use suitable diagram for your
answer.
10. Explain with the help of diagram the law of

variable proportions.
SECTION - C
11. Define any three of the following : 3x4=12

(a) Say's law
(b) Giffen goods
(c) Iso - cost line
(d) Selling costs
EEC-11 2
No. of Printed Pages : 6 EEC 011
-

Term-End Examination
17862
June, 2017
ELECTIVE COURSE : ECONOMICS
Note : Attempt questions from each section as per instructions

given in each section.
SECTION - A

1. Distinguish between price elasticity of demand

and Income elasticity of demand. Explain the
factors that influence the price elasticity of
demand.
2. How are wage rate determined in a perfectly

competitive market ? Do the imperfections in the
market influence the wage rate structure ?
3. State the concept of circular flow of Income. Also

explain the conditions in which national flows of
income, output and expenditure shall be equal.
EEC-011 1 P.T.O.
4. Explain how the international trade is different
from domestic trade. Also state with illustration
the comparative cost theory of international trade.
SECTION - B
Answer any three questions from this section in

5. Distinguish between perfect competition and
monopolistic competition. Also bring out the
similarities and dissimilarities in the short run
equilibrium position of a perfectly competitive firm
and a monopolistic competitive firm.
6. Differentiate between inflation and deflation.

How does inflation affect different sections of the
society ?
7. Discuss with the help of a diagram the Hicksian

method of isolating substitution effect from
income effect.
8. What is production function ? Distinguish

between short-run and long run production
function.
9. Explain the classical version of quantity theory of

money.
EEC-011 2
SECTION - C
Attempt all the questions from this section :

10. Distinguish between any three of the following :
3x5=15
(a) Average variable cost and average fixed cost
(b) Micro economic variable and macro
economic variable
(c) Static and dynamic analysis
(d) Stock variables and flow variables
(e) Balance of trade and Balance of payments
11. Explain any three concepts from the followings :

3x5=15
(a) Public goods
(b) Transfer income
(c) Effective demand
(d) Marginal efficiency of capital
(e) Multiplier
EEC-011 3
No. of Printed Pages : 4 I EEC 011 I
-
00 BACHELOR'S DEGREE PROGRAMME

O Term-End Examination
0 June, 2018

SECTION - A
about 500 words each. 2x20=40
1. Explain different forms of market. How does a
perfectly competitive firm achieve short-term
equilibrium ? Will the firm invariably earn
maximum profit in such a situation ?
2. Define an indifference curve. What are the

important properties of indifference curves ?
Explain consumer's equilibrium with the help of
indifference curves.
3. The principle of effective demand forms the basis

of the Keynesian theory of employment. How is
it determined ? Also explain the chain of events
if AD increases.
4. Why do nations trade ? Discuss the Ricardian

theory of comparative cost of international trade.
EEC-011 1 P.T.O.
SECTION - B
Answer any four questions from this section in
5. Define inflation. Distinguish between demand-
pull inflation and cost - push inflation.

marginal cost. Use suitable diagrams for your
answer.

8. What is Consumer's Surplus ? How is it

measured ? Explain with the help of a diagram.
9. What do you mean by a public good ? Why

government intervention is required for their
efficient supply ?
10. Distinguish between transfer earnings and actual

earnings. Under what conditions the difference
between the two will be the maximum ?
SECTION - C
11. Distinguish between any two of the following :
2x6=12
(a) Autonomous Investment and Induced
Investment
(b) Stock Variable and flow variable
(c) Partial Versus General Equilibrium
EEC-011 2
No. of Printed Pages : 7 I EEC-11
December, 2011
co ELECTIVE COURSE : ECONOMICS
(NI
Cpl EEC-11 : FUNDAMENTALS OF
CD ECONOMICS
(Weigh tage : 70%)
SECTION - A
1. Explain how a discriminating monopolist reaches
equilibrium. What are the underlying
assumptions for a discriminating monopolist ?
2. Explain how equilibrium output and price are

determined in the Keynesian model ?
3. Distinguish between income effect and

substitution effect. Show their interaction in the
case of a Giffen good.
4. Explain the theory of rent as propounded by

Ricardo.

EEC-11 1 P.T.O.
SECTION - B

5. Explain the theory of comparative cost advantage

with a suitable example.
6. Explain how wage rate is determined under

marginal productivity theory ?
7. What is meant by oligopoly ? Explain how

equilibrium price is determined in an oligopolistic
market in the presence of dominant price
leadership.
8. Explain how household, firm and government

interact in circular flow of income ?
9. Discuss the loanable funds theory of interest rate

determination.
10. What is meant by demand for money ? Describe

different motives of holding money according to
Keynes.
EEC-11 2
SECTION - C
Answer all questions from this section in about
100 words each. 2x6=12
11. Write short notes on any two of the following :

(a) Kinked demand curve
(b) Income elasticity of demand
(c) Consumer surplus
(d) Iso-cost curves

(a) Balance of trade and Balance of payments.
(b) Average and Marginal propensity to
consume
(c) Multiplier and Accelerator
(d) Fixed exchange rate and flexible exchange
rate systems.
EEC-11 3 P.T.O.
No. of Printed Pages : 6 EEC-11

December, 2014 1 .16
EEC-11 : FUNDAMENTALS OF
ECONOMICS
SECTION - A

1. Define price elasticity of demand. How is the
price elasticity coefficient calculated ? Prove that
on a straight line sloping downwards, demand
curve, elasticity of demand will be unity at the
middle point of the curve. 4+4+12=20
2. With the help of indifference curves show the

effect on consumers equilibrium when the price
of only one commodity changes. Decompose the
effect into income effect and substitution effect.
10+5+5=20
3. Why do nations trade ? In this context evaluate
theory of comparative cost advantage. 8+12=20
4. Explain the components of balance of payments.

In this context explain the concept and
significance of foreign exchange reserves. 8+12=20
EEC-11 1 P.T.O.
SECTION - B
5. State the factors that affect demand for money as

stated by J.M.Keynes. Explain their role in the
determination of rate of interest. 4+6=10
6. Explain briefly the 'Law of Variable Proportions.' 10

Use a schedule and graph.
7. What is Consumer's Surplus ? How is it measured ?

Explain with the help of a diagram. 3+7=10
8. The following is the cost data of a firm for different 10

levels of output :
Output (Units) 0 1 2 3 4 5
Total Cost (Rs.) 30 50 66 72 94 130
Calculate Average variable cost (AVC), Average
fixed cost (AFC), Average total cost (ATC), and
Marginal cost (MC).
9. Define the concept of investment. Also state the

factors that determine investment in an economy.
3+7=10
SECTION - C
Answer all questions in this section as indicated.
2x15=30
10. Explain any three of the following concepts :
(a) Water Diamond Paradox 3x5=15
(b) Iso- Cost Curve
(c) Circular Flow of Income
(d) Effective demand
(e) IS and LM Curve
(f) Oligopoly
EEC-11 2
(a) Micro Economics and Macro Economics 3x5=15
(b) Fixed Proportions and Variable Proportions
of factor inputs
(c) Actual GDP and Potential GDP
(d) Inferior Goods and Giffen Goods
(e) Recessionary gap and Inflationary gap
(f) Simple Monopoly and Discriminating
Monopoly.
EEC-11 3
No. of Printed Pages : 8 I EEC 111
-

(BDP)
0:36 December, 2015
ELECTIVE COURSE : ECONOMICS .

Note : Attempt questions from each section as per
instructions.
SECTION A
Answer any two questions from this section in about
500 words each. 2 x 20=40
1. Show diagrammatically the effect of a change in

the price of a commodity as a sum of the Income
effect and Substitution effect.
2. Explain the relationship between Marginal
Product and Average Product as more units of a
variable input are employed. Can Average
Product be rising while Marginal Product falls ?
Give reasons.
EEC-11 1 P.T.O.
3. Distinguish between 'shut-down' point and
`break-even' point of a perfectly competitive firm.
Can a perfectly competitive firm earn normal
profits in long-run equilibrium situation ? Why
or why not ?
4. What do you understand by circular flow of

income ? Explain with the help of a four sector
model. In this context, explain the 'justification
or otherwise of the following identity :
I+G+X=S+T+M
EEC-11 2
SECTION B
.nswer any three questions from this section in about •
What is meant by Current Account Deficit (CAD)

in Balance of Payments ? From the perspective
of growth, is rising CAD good or bad ?
Distinguish between Inflation and Deflation.
How do these effect the growth process in an
economy ?
(a) Can you estimate the value of Marginal
Revenue at the middle point of a
downward sloping straight line demand
curve ? Make use of a graph.
(b) Given the following two demand elasticity
coefficients. Explain which is more
significant and why :
(i) Cross elasticity coefficient between X
and Y = + 0-1
(ii) Price elasticity coefficient for C = - 0.1
How is the zero-rent position propounded by
David Ricardo different than the zero-rent
situation explained by the modern economists ?
"Commercial banks create money. Central bank
regulates it." Explain.
:EC-11 3 P.T.O.
SECTION C
Answer all questions from this section as

indicated. 2x15=3
10. Explain any three of the following concepts : 3x5=1

(a) Giffen good and Inferior good
(b) Monopolistic competition
(c) Production function
(d) Stagflation
(e) Liquidity preference
11. Distinguish between any three of the

following : 3x5=1
(a) Microeconomics and Macroeconomics
(b) Contraction in Demand and Decrease in
Demand
(c) Gross Domestic Product (GDP) and Net
National Product (NNP)
(d) Productive and Unproductive public
expenditure
(e) Average Variable Cost and Marginal Cost
EEC-11 4

N- Term-End Examination
cYD
June, 2013
CT)
CD ELECTIVE COURSE : ECONOMICS
ECONOMICS
SECTION - A

1. 'Economics is a science of choice-making'. Explain
this statement with the help of production
Possibility curve.
2. With the help of indifference curves, distinguish

between Income Effect and Substitution Effect.
Also draw an Income Consumption Curve if one
of the two commodities is an inferior good.

Describe different motives for holding money as
propounded by Keynes.
EEC-11 1 P.T.O.
4. Discuss the Ricardian theory of comparative cost
advantage of international trade.
EEC-11 2
SECTION - B
5. What is short -run production function ? Explain
the law of variable proportions with the help of a
diagram.
6. Define inflation. Giving reasons, distinguish

between demand -pull inflation and cost-push
inflation.
7. Discuss the concept of marginal propensity to

consume (MPC). Show diagrammatically the
relation between MPC and investment multiplier.
8. What is National Income ? How is national

income in India estimated ?
9. 'Is profit a reward for innovation' or is it a reward

for bearing risk and uncertainty ?
10. What are the main characteristics of the oligopoly

form of market ? Also explain in brief the concept
of 'Cartel' in the given context.
11. Distinguish between income elasticity of demand

and price elasticity of demand. Income elasticity
coefficient for commodity-X is — 0.25 and for
commodity-Y it is +0.15. How will you interpret
these results ?
EEC-11 3 P.T.O.
SECTION-C
Attempt both the questions from this sections. 2x6=12
12. Highlight the 'backward bending supply curve of

labour'.
13. Explain any two of the following concepts :

(a) Giffen goods
(b) Terms of Trade
(c) Public Goods
(d) Indifference map
EEC-11 4
BACHELOR'S DEGREE PROGRAMME (BDP)

12049
June, 2014


(Weightage 70%)
Note : The paper contains three Sections A, B and C.

Attempt the questions as per instructions given in
each section.
SECTION A
Attempt any two questions from this section in about
1. Define an indifference curve. What are the

important properties of indifference curves ?
Explain consumer's equilibrium with the help of
indifference curves. 2+8+10=20
2. State and explain the Law of Variable

Proportions with the help of a diagram. Why do
increasing returns to a factor obtain when the
units employed keep increasing ? 12+8=20
EEC-11 1 P.T.O.
3. Critically examine the quantity theory of money,
making clear the distinction between Fisher's
equation of exchange and cash balances
approach. 20
4. The principle of effective demand forms the basis

of the Keynesian theory of employment. How is
it determined ? Discuss its role in the
determination of equilibrium level of income in
an economy. 20
EEC-11 2
SECTION B
Answer any three questions from this section in about
5. (a) Distinguish between price elasticity of

demand and income elasticity of demand.
Can income elasticity of demand be
negative ?
(b) A consumer buys 50 units of a good at a
price 4 per unit. When its price falls by 25
per cent, its demand rises to 100 units. Find
out price elasticity coefficient of demand. 5
6. Examine with the help of a graph the

relationship between average variable cost,
average cost and marginal cost. 10
7. A perfectly competitive firm is a price-taker

firm. Who is the price-maker ? How does he
work ? 10
8. Define and explain briefly the different degrees

of price discrimination. 10
9. Examine in brief the Loanable Fund theory of

interest rate determination. 10
EEC-11 3 P.T.O.
SECTION C
Answer all questions in this section as indicated. 2x15=30

(i) Inferior goods
(ii) Income effects
(iii) Phillip's curve
(iv) Investment multiplier
(v) Gains from international trade

following : 3x5=15
(i) Monopoly and Monopolistic Competition
(ii) Price effect and Substitution effect
(iii) Ricardian Theory of Rent and Modern
Theory of Relit
(iv) Inflation and Deflation
(v) Balance of Trade and Balance of Payments
EEC-11 4
BACHELOR'S DEGREE PROGRAMME (BDP)

June, 2015


Note : Attempt questions from each section as per
instructions.
SECTION A
Answer any two questions from this section in about

500 words each. 2 x 20=40
1. Explain briefly the law of variable proportions. In

which stage does a business firm operate and
why ?
2. Define Monopoly. How is price determination

under monopoly different from monopolistic
competition ?
EEC-11 1 P.T.O.
3. Define National Income. What are the various
methods of measuring the National Income ? Do
all the methods yield the same results ? Explain.
4. Distinguish between price elasticity of demand

and cross elasticity of demand. Study the
following table carefully and comment on the
value of elasticity of coefficients :
Price of Coca Cola Demand for Pepsi

(T) (units)
10 100
11 120
EEC-11 2
SECTION B
Answer any three questions from this section in about

5. What do you mean by maximum support price in

agriculture marketing ? How do these influence
the terms of trade between agriculture and
non-agriculture sector ?
6. Explain the Fisher's Quantity Theory of Money.
7. Explain the determination of factor pricing under

the conditions of perfectly competitive factor
market.
8. In a given context of inflation in India,

distinguish between cost-push inflation and
demand-pull inflation.

Explain in brief the Keynesian theory of demand
for money.
EEC-11 3 P.T.O.
SECTION C
Answer all questions in this section as indicated. 2x15=30

(a) Production Possibilities Curve
(b) Price Discrimination
(c) Derived Demand
(d) Consumer Surplus
(e) Marginal Cost

following : 3x5=15
(a) Positive Economics and Normative
Economics
(b) Expansion in Demand and Increase in
Demand
(c) Gross National Product (GNP) and Gross
Domestic Product (GDP)
(d) Balance of Trade and Balance of Payments
(e) Fixed Cost and Variable Cost
EEC-11

CD
C3) Term-End Examination
June, 2011
ECONOMICS
(Weightage : 70%)
SECTION - A

1. What is meant by elasticity of demand ? Explain
the factors that influence elasticity of demand.
2. Explain the meaning of IS and LM curves. Flow

does an economy realise equilibrium in both goods
and money market ?
3. Expalin the concept of balance of payments.

What are its components ? Explain why balance
of payments always balanced ?
4. Expalin , with the help of indifference curves the

impact on a consumer's demand of a rise in price
of a commodity
EEC-11 1 P.T.O.
SECTION - B

5. What are the basic assumptions of perfect

competition ? How does a perfectly competitive
firm achieve equilibrium in the long run ?
6. Explain the law of veriable proportions through

appropriate diagram.
7. What according to Keynes are the different

types of demand for money ? What are its
implications ?
8. Explain the product exhaustion theorem. What

are the underlying assumptions in this theorem ?
9. Describe the determination of equilibrium price

and quantity under simple monopoly.
10. What is a production function ? Show that

cobb - Douglas production function is linear
homogeneous.
EEC-11 2
SECTION - C
Answer all Questions from this section in about

11. Write short notes on any two of the following :
(a) Backward - bending supply curve of

labour
(b) Phillips curve
(c) Terms of trade
(d) Oligopoly

(a) Partial and general equilibrium
(b) Fixed cost and variable cost
(c) Stocks and flows
(d) Taxes and transfer payments
EEC-11 3 P.T.O.
No. of Printed Pages : 4 IEEC-011

December, 2018

SECTION - A
1. 'Economics is a science of choice-making'. Explain
this statement with the help of production
possibilities curve.
2. What do you understand by balance of

payments ? What are the components of balance
of payments account ?
3. What is consumption function ? State the factors

that determine the level of consumption in an
economy. Also bring out the relationship between
APC and APS.
4. Explain the meaning of IS and LM curves. How

and money market ?
EEC-011 1 P.T.O.
SECTION - B
5. What is short-run production function ? Explain
the law of variable proportions with the help of a
diagram.
6. Bring out the relationship between Average Cost

and Marginal Cost. Can average cost be falling
while marginal cost rises ?
7. Describe the determination of equilibrium price

and quantity under simple monopoly.
8. Explain quantity theory of money. What are its

implications ?
9. 'Is profit a reward for innovation' or is it a 'reward

for bearing risk and uncertainty' ? Explain.
10. What is inflation ? How is inflation measured

through index number ?
SECTION - C
(a) Real and Nominal Rates of Interest. 2x6=12
(b) Ricardion and Modern theory of rent.
(c) Price Elasticity and Income Elasticity of
Demand.
EEC-011 2
No. of Printed Pages : 4 IEEC-0111

December,- 2017
cNi
Time : 3 hours Maximum Marks' : 100

Note : Attempt questions from all the sections as per
instructions given in each section.
SECTION - A
1. Explain total expenditure and point method to
measure the elasticity of demand . How the
concept of elasticity is important for decision
makers ?
2. In what sense , economics is science ? Explain

with the help of a production possibility curve how
economics is a science of choice making ?
3. Distinguish between 'monopoly' and

'monopolistic competition'. Also state the
conditions necessary for price discrimination.
4. What is the distinction between Gross National

Income at market prices and National Income ?
Explain the income method of national income
accounting using suitable illustration.
EEC-011 1 P.T.O.
SECTION - B
Attempt any three questions from this section in
5. Using indifference curves show that price effect
is a combination of income effect and substitution
effect.
6. What do you mean by 'terms of trade' ? Discuss

the importance of terms of trade.
7. What is bank rate ? Is it an effective tool in

controlling inflation ?
8. Explain with diagram the relationship between

total, average and marginal cost.
9. Discuss the liquidity preference theory of

determination of rate of interest.
SECTION - C
Attempt all the questions from this section. 2x15=30
(a) Positive economics and normative
economics
(b) General equilibrium and partial equilibrium
(c) Static analysis and dynamic analysis
(d) Inflation and stagflation
(e) Micro economics and Macro economics
11. Explain any three of the following :

(a) Consumer's surplus
(b) Pure Public goods
(c) Expansion path
(d) Fiscal deficits
(e) Consumption function
EEC-011 2
No. of Printed Pages : 8 I EEC-11 I

December, 2012
ECONOMICS
Note : Answer the questions from all sections as per

instructions.
SECTION - A

1. Explain the circular flows of income. Explain the

roles of household, firm and government in the
circular flows.
2. Explain price discrimination in a market structure

characterised by monopoly. Provide suitable
examples.
3. Explain the equilibrium in commodity and money

markets with the help of IS and LM curves.
1 P.T.O.
EEC-11
4. Explain with the help of indifference curves the
equilibrium of a consumer in the event of a price
decrease.
EEC-11 2
SECTION-B

5. Explain how Euler's theorem holds good in
perfectly competitive markets.
6. What is meant by quantity theory of money ?

What are its implications ?
7. Explain the concept of Liquidity trap. What are

its implications for policy formulation ?

marginal cost. Use suitable diagram for your
answer.

EEC-11 3 P.T.O.
SECTION-C
Answer all the questions in this section as

indicated. 2x15=30
10. Explain any three of the following concepts:
(a) Public goods
(b) investment multiplier
(c) income elasticiy of demand
(d) double counting
(e) Comparative advantage
11. Distinguish between any three of the followings :

(a) Speculative demand and precautionary
demand for money
(b) nominal GDP and real GDP
(c) Fixed cost and variable cost
(d) Indirect tax and direct tax
(e) Stock variable and flow variable.
EEC-11 4

December, 2013
ECONOMICS
SECTION - A

1. Define an indifference curve. What are its
properties ? Explain and state clearly the
conditions of consumer's equilibrium with the help
of indifference curves.
2. What is a consumption function ? State the level

of consumption the factors that determine in an
economy. Also bring out the relationship between
APC and APS.
3. What do you understand by balance of

payments ? What are the components of a balance
of payments account ?
EEC-11 1 P.T.O.
perfectly competitive firm achieve short - term
equilibrium ? Will the firm invariably earn
maximum profit in such a situation ?
SECTION - B

about 300 words each. 4x12=4f
5. Bring out the relationship between Average Cost

and Marginal Cost. Can average cost be rising
while marginal cost falls ?
6. What are three stages of production ? Explain in

brief the reasons for operation of the law of
diminishing marginal returns.
7. Distinguish between transfer earnings and actual

earnings. Under what conditions the difference
between the two will be the maximum ?
8. What do you mean by demand for money ? State

in brief the keynesian theory of demand for
money.
9. What do you mean by gains from trade ? How

are these measured ?
10. Is discriminating monopoly bad ? Explain fully

giving reasons.
11. Describe the wireman - peacock hypothesis about

increase in public expenditure over time.
EEC-11 2
SECTION - C
Attempt both the questions of this section. 2x6=12
12. Clarify any two of the following concepts :

(a) Externalities
(b) Methods employed in measuring output in
registered manufacturing sector
(c) Keynesian Inflationary Gap
(d) Relationship between GNPmp and NDPFc

(a) Real and nominal rates of interest
(b) Value of output and value added
(c) Real flows of income and money flows of
income.
EEC-11 3

December, 2016
Lfl
0 ELECTIVE COURSE : ECONOMICS

SECTION - A
1. Why do countries trade with each other ?
Critically examine the Ricardian theory of
comparative advantage in this regard.
2. Explain the meaning of IS and LM curves. How

and money market ?

firm achieve equilibrium in a perfectly competitive
market ?
4. Explain the circular flows of income. Explain the

roles of households, firms and government in the
circular flows.
EEC-011 1 P.T.O.
SECTION - B
5. Why do so many wage rates prevail in the labour

market ?
6. Explain the 'law of variable proportions' with the

help of a diagram.
7. Explain how average revenue, marginal revenue

and elasticity of demand are related with each
other.
8. Discuss the conditions under which markets can

fail.
9. What is meant by inflation ? How is it related to

unemployment ?
10. Discuss the concept of marginal propensity to

consume (MPC). Show diagrammatically the
relation between MPC and investment multiplier.
SECTION - C
(a) Elasticity of Demand
(b) Consumers' Surplus
(c) Giffen Goods
(d) Transfer Payments
EEC-011 2
00
June, 2012
C\I
ECONOMICS
(Weightage : 70%)
SECTION - A

1. How do you derive the IS and LM curves ? What
do they signify ?
2. What is meant by an indifference curve ? Explain

with the help of a diagram how a consumer attains
equilibrium.

firm achieve equilibrium in a perfectly competitive
market ?
4. Explain the output method of estimating national

income. What are the limitations of GDP as a
measure of performance of the economy ?
EEC-11 1 P.T.O.
SECTION-B

Describe keyne's different motives for holding
money.
6. What is meant by inflation ? How is it related to

unemployment ?
7. Can a monopolist incurlosses in the short-run ?

Explain through appropriate diagram.
8. Explain the theory of comparative cost advantage.
9. Explain the concept of deflationary gap with the

aid of a diagram.
EEC-11 2
SECTION-C
Answer all questions in this section as indicated.

2x15=30
(a) Consumer surplus
(b) Investment multiplier
(c) Stagnation
(d) Oligopoly
(e) Circular flow of income
11. Distinguish between any three of the following : 3x5=15

(a) Fixed cost and Variable cost
(b) Autonomous investment and Induced
investment.
(c) Average propensity to consume and
Marginal propensity to consume.
(d) Monopoly and Monopolistic competition
(e) Stock variable and Flow variable
EEC-11 3 P.T.O.

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BACHELOR'S DEGREE PROGRAMME

Time : 3 hours Maximum Marks : 100

Attempt any two questions from this section in

2. Discuss the concept of Marginal Propensity to

3. Explain the concept of balance of payments. What

4. What do you mean by demand for money ?

Attempt any four questions from this section in

6. Explain how wage rate is determined under

7. Explain the theory of comparative cost advantage.

8. What is National Income ? How is national

9. Explain the relationship between average cost and

10. Explain with the help of diagram the law of

11. Define any three of the following : 3x4=12

BACHELOR'S DEGREE PROGRAMME

Note : Attempt questions from each section as per instructions

Attempt any two questions from this section in

1. Distinguish between price elasticity of demand

2. How are wage rate determined in a perfectly

3. State the concept of circular flow of Income. Also

Answer any three questions from this section in

6. Differentiate between inflation and deflation.

7. Discuss with the help of a diagram the Hicksian

8. What is production function ? Distinguish

9. Explain the classical version of quantity theory of

Attempt all the questions from this section :

11. Explain any three concepts from the followings :

00 BACHELOR'S DEGREE PROGRAMME

Time : 3 hours Maximum Marks : 100

2. Define an indifference curve. What are the

3. The principle of effective demand forms the basis

4. Why do nations trade ? Discuss the Ricardian

6. Explain the relationship between average cost and

7. Explain with the help of diagram the law of

8. What is Consumer's Surplus ? How is it

9. What do you mean by a public good ? Why

10. Distinguish between transfer earnings and actual

Note : Answer questions from all sections as per instructions.

2. Explain how equilibrium output and price are

3. Distinguish between income effect and

4. Explain the theory of rent as propounded by

Answer any four questions from this section in

5. Explain the theory of comparative cost advantage

6. Explain how wage rate is determined under

7. What is meant by oligopoly ? Explain how

8. Explain how household, firm and government

9. Discuss the loanable funds theory of interest rate

10. What is meant by demand for money ? Describe

11. Write short notes on any two of the following :

12. Distinguish between any two of the following :

BACHELOR'S DEGREE PROGRAMME

Attempt any two questions from this section in

2. With the help of indifference curves show the

4. Explain the components of balance of payments.

5. State the factors that affect demand for money as

6. Explain briefly the 'Law of Variable Proportions.' 10

7. What is Consumer's Surplus ? How is it measured ?

8. The following is the cost data of a firm for different 10