Explain the circular flow of income and expenditure in an open economy with the help of diagram
[7 marks]Explain briefly various methods of measuring national income
[7 marks]What is Equation of Exchange? Explain Fisher’s Quantity Theory of Money with the help of diagram.
[7 marks]Explain briefly the Classical theory of Employment and Income
[7 marks]Explain the Principle of Effective Demand with the help of table and diagram
[7 marks]Define Money and explain the functions of money
[7 marks]Explain in detail the effects of inflation on different class of people
[7 marks]Define Business Cycle and explain the phases of business cycle in detail
[7 marks]Define consumption function and explain the determinants of propensity to consume
[7 marks]What is meant by economic growth? Discuss all the factors affecting economic growth in detail.
[7 marks]Define unemployment and explain the types of unemployment
[7 marks]Explain the short run trade-off between inflation and unemployment with the help of Philips Curve
[7 marks]Explain in detail the role of fiscal policy in a developing country
[7 marks]Explain how the monetary instruments are used to control inflation
[7 marks]Explain how the rate of inflation is measured with suitable example
[7 marks]Explain advantages and disadvantages of government expenditure as a measure to control economic fluctuations
[7 marks]Distinguish between:
[7 marks]Micro economics and Macro economics ii) Economic growth and economic development Page 1 of 1
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