Indira Gandhi National Open University (IGNOU) 2007 B.A Economics APPENDICES/ECONOMIC CONCEPTS AND POLICIES - Question Paper
Wednesday, 24 July 2013 08:25Web
ans sny 2 ques. from this sectian. 2x10=20
1. $thy do countries trade ? discuss the Heckscher-Ohlin !
theory of trade stating its assumptions
2. discuss the concept of investment multiplier. If there is an
increase in investment expendifure, define the process of
expansion in conslmption and output in the economy.
EEC.
3. How do you measure fiscal imbalance of an economy ?
provide an outline of an improper corrective policy for the
Indian economy.
4. Distinguish ranging from Harrod's warranted rate of growth and
natural rate of growth. What happens in an economy if
these 2 rates are not equal ?
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part B
5.What.is.a.prohibitive.tariff?Whatareitseffectsonttre
economy that imposes it ?
6. discuss Slutsky's method for separating incom e effect from
substitution eflect when price of commodity falls provided
the price of the other commodity and the money income
of the consumer. , ,
- .
7. Production function for a commodity is a : eight 1qL/a Ll/z.
Show that output is a homogeneous functton of K and L.
What happens to returns to scale ?
'
=_8- Is legal regulations of diminishing returns to a factor compatible with
increasing returns to scale ? F;
point where avg. cost is minimum.
lO- Show with an example that AM > GM > HM where these . a
are arithmetic, geomekic and harmonic means respectively.
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sEcrloN c
ans any 2 ques. from this part. 2x6:72
I 1. Do you favour workers' participation in management ?
whv ?
12. describe the notions of
(i) Crude Death Rate,
(ii) Infant Mortality Rate.
Also bring out their inter-relationship.
13. F->
(b) Rank of matrix
(c) Phillip's curve
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