1. The document provides instructions for a macroeconomics exam, including sections on objective questions, short answer questions, and descriptive questions.
2. The objective section includes 10 multiple choice questions covering topics like the quantity theory of money, high-powered money, functions of commercial banks, monetary policy tools, theories of business cycles, and economic growth models.
3. The short answer section lists 5 questions to choose from on topics such as Gresham's law, monetary policy tools, business cycle theories, inflation, and economic growth models.
4. The descriptive section provides 5 essay questions to choose from, covering monetary theories, central banking, business cycles, inflation, and the Harrod-Domar and
1. The document provides instructions for a macroeconomics exam, including sections on objective questions, short answer questions, and descriptive questions.
2. The objective section includes 10 multiple choice questions covering topics like the quantity theory of money, high-powered money, functions of commercial banks, monetary policy tools, theories of business cycles, and economic growth models.
3. The short answer section lists 5 questions to choose from on topics such as Gresham's law, monetary policy tools, business cycle theories, inflation, and economic growth models.
4. The descriptive section provides 5 essay questions to choose from, covering monetary theories, central banking, business cycles, inflation, and the Harrod-Domar and
1. The document provides instructions for a macroeconomics exam, including sections on objective questions, short answer questions, and descriptive questions.
2. The objective section includes 10 multiple choice questions covering topics like the quantity theory of money, high-powered money, functions of commercial banks, monetary policy tools, theories of business cycles, and economic growth models.
3. The short answer section lists 5 questions to choose from on topics such as Gresham's law, monetary policy tools, business cycle theories, inflation, and economic growth models.
4. The descriptive section provides 5 essay questions to choose from, covering monetary theories, central banking, business cycles, inflation, and the Harrod-Domar and
1. The document provides instructions for a macroeconomics exam, including sections on objective questions, short answer questions, and descriptive questions.
2. The objective section includes 10 multiple choice questions covering topics like the quantity theory of money, high-powered money, functions of commercial banks, monetary policy tools, theories of business cycles, and economic growth models.
3. The short answer section lists 5 questions to choose from on topics such as Gresham's law, monetary policy tools, business cycle theories, inflation, and economic growth models.
4. The descriptive section provides 5 essay questions to choose from, covering monetary theories, central banking, business cycles, inflation, and the Harrod-Domar and
INSTRUCTIONS TO CANDIDATES ( Please read the instructions carefully before you start writing your answers ) 1. Questions should be attempted as per instructions. 2. Do not copy the Questions. Indicate the Section and Question No. clearly while attempting the answer. 3. For Multiple choice answer, candidate should indicate the Question No., Sub. No., (if any) and the correct answer. For example : 1. Name the State capital of Mizoram. (a) Lunglei (b) Aizawl (c) Champhai Candidate should provide answer as—Q. No. 1 : (b) Aizawl [ Candidate should avoid writing only (b) ] 4. The figures in the margin indicate full marks for the questions.
UNIT—I 1. (a) Examine the cash balance approach to the quantity theory of money. How far is it superior to the transaction approach? 7+3=10 OR (b) What is money? Explain different functions of money. 2+8=10
UNIT—II
2. (a) What is Central Bank? Explain the various instruments of credit
control by the Central Bank. 2+8=10 OR (b) Define commercial banks. Discuss the process of credit creation by the commercial banks. 2+8=10
UNIT—III
3. (a) Explain the different phases of business cycles. What are the major causes of business cycles in the economy? 6+4=10 OR (b) Critically examine Hayek’s over-investment theory of trade cycle. 10
UNIT—IV
4. (a) What is inflation? Explain the effects of inflation in the economy.
3+7=10 OR (b) What are the major causes of inflation? Explain briefly the various measures to control inflationary problems in the economy. 5+5=10
/33 6 [ Contd. UNIT—V
5. (a) Critically explain the Harrod-Domar model of economic growth. 10
OR (b) Critically explain the Solow’s model of economic growth. 10
