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Economics Macro - Xid-2035293 - 1

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Naman Kapoor
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24 views4 pages

Economics Macro - Xid-2035293 - 1

Uploaded by

Naman Kapoor
Copyright
© © All Rights Reserved
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SVKM’s NMIMS Anil Surendra Modi School of Commerce Programme: B.Sc (Finance) Batch: 2014-2017 Semester: 0 7 Academic Year: 2014-15 Subject: Economics - Macro Date: 28/04/2015 Time: 10.00 a.m| Final ~ Examination ition: 2 Cr Instructions: 1) All questions are compulsory and have internal choice. 2) Figures in the parenthesis indicate maximum marks. 3) Draw diagrams wherever applicable. Q1.A) Explain the following concepts: (3x3=9) a) Price-wage flexibility b) Disguised Unemployment ¢) Disposable Income B) State whether the following statements are true or false. Give reasons in support of your answer: (3x2=6) a) MPS and velocity of circulation of money are inversely related. b) According to Keynes savings are not always equal to investment in an economy. ¢) Idle cash balance and the rate of interest on it are directly related. OR Q1 A) Explain the following concepts: (3x3=9) a) Wage-price spiral b) Arbitrage ©) Autonomous transactions in a country’s BOPs B) State whether the following statements are true or false. Give reasons in support of your answer: (3x2=6) ih, a) MPC determines the slope of the consumption curve. b) MEC increases during prosperity and falls during recession in an economy. ¢) Foreign remittances should be included in the Current Account of a country’s BOPs. Q2A) Explain in detail the income method of estimating national income of a country. (8) Q2B) Read the following case study and answer the questions that follow: Is GDP a False Beacon Steering Us into the Rocks? Suppose a factory in your community has been dumping hazardous wastes in the local water supply and people rontract cancer and other illnesses from drinking polluted water. The Environ.nental Protection Agency (EPA) discovers this pollution and, under t+ cederal "Superfund" law, orders a cleanup and a fine for the damages. The co pany defends itself against the EPA by hiring lawyers and experts and takes che case to court. After years of trial, the company loses the case and has + pay for the cleanup and damages. In terms * “ che GDP, an amazing "good" result occurs: The primary measure of natic’ . economic output, GDP, increases. GDP counts the millions of dollars spe _.

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