Acharya Nagarjuna University (ANU) 2005 B.A Economics ECONOMIC THEORY - Question Paper

B.A. DEGREE EXAMINATION, DECEMBER 2005.
( exam at the end of 1st Year)
Part II - Economics
Paper I- ECONOMIC THEORY

Time : 3 hours Maximum : 100 marks

PART A - ( two x 20 = 40 marks)
ans any 2 of the subsequent ques..

1. Using Slutsky.s method, discuss how the price effect can be decomposed into income and substitution effects.

2. Draw the conventional cost curves explaining the interrelationships ranging from them.

3. What is monopolitic competition? discuss how the price and output are determined under monopolistic competition.

4. Critically, examine the Keynesian theory of income determination.

PART B - (3 x 15= 45 marks)

ans any 3 of the subsequent ques..

5. discuss the concepts of point elasticity of demand and are elsticity of demand. How do you measure the elasticity of demand using these 2 concepts?

6. Draw the total product curve and show the 3 stages of production. elaborate the properties of these 3 stages of production?

7. What is meant by price discrimination? Under what conditions it is possible? Briefly discuss the 3 kinds of price discrimination, a monopolist practices.

8. How do you measure national income? elaborate the issues involved in the measurement of national income?

9. Critically examine the volume theory of money.

10. Distinguish ranging from the demand - pull and cost - push theories of inflation.

PART - C (3 x five = 15 marks)

Briefly discuss any 3 of the subsequent concepts :

11. Marginal rate of substitution.

12. Opportunity cost.

13. Marginal efficiency of capital.

14. Accelerator.

15. Phillip.s curve.

16. Monetary policy.

Earning:   Approval pending.