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ECONOMICS Time: 2 Hours HSE II Maximum: 80 Scores Instructions 1. Read the questions carefully before answering them. 2. Maximum time allowed is 2 hours 45 minutes, including cool off time. 3. First 15 minutes is cool off time during which you should not answer the questions. This time is meant to read the questions carefully.
1. Classify the following in appropriate heads. Salary of a teacher,inflation,partial equilibrium,full employment. (score:2) 2. The price of a commodity per unit is Rs5/.Prepare a table showing TR and MR of the firm at sales level 1 to 10 units? (score:3) 3. Identify the short run profit maximization condition of a firm under perfect maximization? (score:3) 4. If a consumer has monotonic preference what can you say about her preference rankingOver the bundles (5,5) (5,4) (4,4)? (score:2) 5. What do you mean by dirty floating? (score:2) 6. What is the supply curve of a firm in the short run.Show it diagrammatically? (score:3) 7. Output TC (units) 0 1 2 3 4 5 40 60 76 88 98 106

Calculate AFC,AVC,SAC&SMC.If the TFC is Rs40/.Write down equations and Represent these variables in the form of curves? (score:8) 8. Suppose the demand and supply curves of a commodity are given by Qd=1000-P Qs=700+2p (a) find the equilibrium price and quantity? (score:4) 9. Match Column B& C with A (score: 4)

A Monopoly

B Very large number of sellers. Few sellers. Large number of sellers. single seller.

C Dd curve is more elastic Dd curve is indeterminate Horizontal straight line Less elastic dd curve.

Perfect comprtition

Oligopoly Monopolistic competition

10. There are three identical firms in a market.The following table shows the supply schedule of firm1.Compute the market supply schedule and market supply curve? Price Supply

5 7

20 25

9 11

30 35 (score4)

11. Find the odd one and justify your answer. Adamsmith,J M Keynes, David Ricardo, J S M ill 12 (score1)

Y Y=400 P R I C E

Y Y=500 P R I C E



Quantity demanded

Quantity demanded

(score3) 13. Prepare a seminar report on the topic different methods to measure National income? (score8) 14. Fill the missing columns. M1 M2 M3 M4 15. Calculate expenditure multiplier and Tax multiplier if mpc=0.8 (score2) (Score:4)

16. Match column A with B and C A B C

Alfred Marshall J M Keynes AdamSmith

The Wealth of Nations


Principles of Economics The General Theory of Employment Interest and Money

1776 1890

(Score:3) 18. Fill the missing columns Shift in demand Leftward Rightward Rightward Increase/decrease/ unchanged Shift in supply Leftward Rightward Quantity Price

Increase Increase

(Score:4) 19. Suppose the Nominal GDP of India in 2000 was Rs25000 crores. The value of GNP of India during the same year evaluated at constant prices was Rs.3000 crores. Calculate the value of the GNP deflator? (score2) 20. Investment = 300 Government purchase = 200. Net Taxes (lumpsum TaxTransfers) Is 100 and consumption is given by C = 100 + 0.75Y. a)What will be the level of equilibrium? b) If government expenditure increases by 200,find the changes in equilibrium income? (score 4) 20. Name a commodity on which floor price is imposed in India.What may be the consequences of floor pricing? (score3) 21. Identify the flows. (score4)




Y G o o d 2 b a c

Good1 Identify the points a, b, c.

X (score:3) (score:4)

23. In flexible exchange rate system, how is exchange rate determined?

Prepared By 1. Vincent.K 2. Selvan Roy 3. Priya V.T 4. Santhosh Kumar.P.K 5. Aji. R 6. Sreekala. A

RMO HSS Pulimkkudi GLVHSS Arayoor HSS for Girls,Venganoor HSS for Girls, Venganoor DVMNHSS Maranalloor GHSS Kulathummel