BCom In Accounting & Finance (BCAF) SEM III 2022 2023 Oct 2023 ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) State whether the following statements are TRUE OR FALSE: (Any 8) 8 marks
   • 1. All the imports, investments and lending to other countries lead to outflow of
   • 2. The peak in the trade cycle is the end of the prosperity and the beginning of the
   • 3. Inatwo sector economy aggregate demand consists of only two components
   • 4. Broad money is a constituent of money supply
   • 5. Transaction motive comprises of income and business motive
   • 6. Monetary and fiscal measures are not used to control inflation
   • 7. The difference between total expenditure and total receipt is Budget
   • 8. Inflation is a microeconomic phenomenon
   • 9. FRBM Act was passed in the year 2003
   • 10. Good taxation system should be complicated
2. Q1 B) Fill in the blanks with the appropriate terms given below: (Any 7) represents the turning point of the trade cycle 7 marks
   • 2. Liquidity preference theory of interest is given by
   • 3. Inflation is a state in which the value of money is
   • a) Fees and fines b) Corporate tax c) Property tax
   • 6. International trade increases _ of goods and services
   • 7. Foreign direct investment is included in
   • 8. advocated the roie of public expenditure
   • a) A. Smith b) J. M c) A. C. Pigou
   • 9. Fiscal policy refers to
   • 10. Impact and incidence of a tax is on the same person in the case of
3. Q2 A) Discuss the circular flow of income in a four sector economy. 8 marks
   • B) Explain the main phases of a trade cycle. 7
   • C).What do you mean by macro-economic & state its definition 8
   • D).Explain the scope of macro-economic in detail. 7
4. Q3 A) What are the objectives of fiscal policy? 8 marks
   • B) Explain the monetary and fiscal policy. 7
   • C) Discuss the different types of public debt. 8
   • D) Examine the classification of Public expenditure 7
5. Q4 A) What is a budget? Examine the types of budget. What is a deficit budget? Explain the different concept of deficit budget (7) 8 marks
   • C) What are the merits and demerits of direct taxes? 8
   • D) Examine the role of taxes in a country like India 7
6. Q5 A) What are the factors influencing impact of taxation 8 marks
   • B) What are the factors influencing incidence of taxation 7
7. Q5 Write short notes on: (Any 3) 15 marks
   • A) Public goods
   • B) Sound finance
   • C) Cannon of public expenditure
   • E) Cannon of taxation

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