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BLS LLB 5 Years Sem 1 Economics 2021-22 Question Paper with Solutions

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BLS LLB 5 Years · Sem 1

2021-22 Examination

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First published on munotes.in on 9 August 2026.

This edition revised 10 August 2026.

Published by munotes.in, Mumbai.

Model answers written and edited by the munotes.in editorial desk.

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The question paper reproduced here is the paper as set by the University of Mumbai at the 2021-22 examination.

The questions below are the paper as the University of Mumbai set it at the 2021-22 examination, in the order it was set.

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The Paper as Set

The questions in this volume are the questions asked at the 2021-22 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.

30 questions answered

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Read the original question paper

SECTION I

Multiple Choice Questions

All 20

1.____ Market is the most volatile market.

a. Money market
b. Call money Market
c. Commercial paper market
d. Treasury Bill Market

Answer

Answer: (b) Call money Market

The call money market is the market for overnight and very short-term interbank funds, repayable on demand. Its rate, the call rate, moves more sharply than any other rate in the money market, and it does so for three reasons:

The term is one day. A lender parting with money for a single night demands whatever the day's scarcity justifies, and there is no time for the rate to average out.
The loans are unsecured. No collateral is pledged, so the rate carries a credit element as well as a liquidity element.
It absorbs the whole day's imbalance. Banks come to it to meet their cash reserve ratio at the close of business, so a shortage anywhere in the banking system shows up here first and in full.

On days when reserve requirements fall due, or when advance tax payments drain money out of the banking system, the call rate can move by several percentage points within hours.

Why the others are wrong:

(a) Money market is the whole market of which the call money market is one segment, so it cannot be the most volatile part of itself.
(c) Commercial paper is issued for fixed periods of up to a year by creditworthy companies, so its rate is settled at issue and does not move daily.
(d) Treasury bills are issued by the Government of India and carry no default risk, which makes them the least volatile instrument in the market, not the most.

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