What do you mean by Macro Economics? Explain the nature and scope of Macroeconomics?
[7 marks]Explain the circular flow of income and expenditure in a four sector economy with the help of a flow chart.
[7 marks]Describe in detail the Say’s Law of Market
[7 marks]Explain the Cash Transaction Approach to the Quantity Theory of Money.
[7 marks]What is the Life Cycle Theory of consumption? Does this theory has any practical relevance?
[7 marks]Define Money and explain in detail the functions of money.
[7 marks]What is Inflation? Discuss about the demand pull and cost push inflation
[7 marks]Differentiate between economic growth and economic development? Explain the factors affecting economic growth in detail.
[7 marks]What is a business cycle? Explain phases of Business cycle with the help of a diagram.
[7 marks]Explain in brief the Principle of Effective Demand.
[7 marks]Explain the economic effect of inflation on different classes of people in society
[7 marks]Explain the Neo-Classical Theory of economic growth
[7 marks]Explain in detail the important instruments of fiscal policy.
[7 marks]Explain the monetary measures used to control inflation
[7 marks]Explain the trade-off between inflation and unemployment with the help of Philips curve
[7 marks]Explain different methods of measuring National Income
[7 marks]Differentiate between: (Answer any two with examples) 1. Sustainable growth and inclusive growth 2. Stock variable and Flow variable 3. Partial equilibrium and General equilibrium 4. Micro Economics and Macro Economics
[7 marks]