BA Marathi And English SEM II 2021 2022 May 2022 MACROECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 All Questions are Compulsory
2. Q2 Figures to the right indicate full marks
3. Q9 ud
4. Q2 sia
5. Q1 Multiple Choice Question. (Choose the Correct Answer) (Marks 50)
6. Q1 ‘Economics is the study of mankind in the ordinary business of life’ . This definition was given by :
   • a) Adam Smith
   • c) Alfred Marshall
7. Q2 A study of how increase in the corporate income tax rate , will affect the natural unemployment rate is an example of :
   • a) Macro Economics
   • b) Descriptive Economics
   • C) Micro Economics
   • d) Normative Economics
8. Q3 Under a free economy, prices are : sited:
   • a) Regulated. faa
   • b) Determined through free interplay of demand and supply
   • c) Partly regulated
   • d) None of these 4.Microeconomics deals with the study of economic entities
   • a) Aggregate
   • b) Individual
   • c) Macro. WHY
9. Q5 is an example of Macroeconomic
   • a) Theory of Production
   • b) Theory of Rent. fata
   • c) General Theory
   • d) Theory of Profit
10. Q6 shows the rate at which a variable change
    • a) Slope
    • b) Equation
    • c) Function
    • d) Data. Sel 7.An equation specifies the relationship between the variables
    • a) Positive and normative
    • b) Fiscal and monetary
    • c) Dependent and independent
    • d) Endogenous and exogenous
11. Q8 Resources have uses
    • a) Limited
    • b) Unlimited
    • c) Alternative
    • d) Particular It is also known as prescriptive economics. @
    • a) Positive
    • b) Micro economics
    • d) Economics 10.Which of the following economic activities are included in the subject-matter of
    • a) Economic Activities related to Unlimited Wants
    • b) Economic Activities related to Limited Resources
    • c) Both (a) and (b)
    • d) None of these
12. Q11 To which factor, economic problem is basically related to:
    • a) Choice. fds
    • b) Selection fas
    • d) None of these
13. Q12 Who was the father of Economics ?
    • a) Say
    • c) Adam Smith
    • d) Joan Robinson
14. Q13 Which of the following is a central problem of every economy 2 marks
    • a) Abundance of resources
    • b) Scarcity of economic resources
    • c) Poverty
15. Q14 Human wants are
    • a) Unsatisfiable
    • b) Unlimited
    • c) Undefined
    • d) Limited
16. Q15 A basic assumption of economics is that
    • a) Wants are unlimited
    • b) Incentives are irrelevant . sire
    • c) Consumers are irrational. sea
    • d) Means are unlimited
17. Q16 The amount of money that could be made by working instead of going to college is best described as HH
    • a) A fixed cost
    • b) cost
    • c) An opportunity cost. Heit art we
    • d) An external cost
18. Q17 The most notable incentives in economics is
    • a) Profit
    • b) Price
    • c) Revenue
    • d) Goodwill
19. Q18 Government can improve economic efficiency by correcting
    • a) Market failure
    • b) Inflation
    • c) Unemployment
    • d) BOP deficit
20. Q19 An is something that induces a person to act. a
    • a) Investment
    • b) Interest . ,
    • c) Incentive
    • d) Income
21. Q20 A country’s depends on its ability to produce goods and services
    • a) Demand
    • b) Standard of living
    • d) Policy 21.When the Government prints too much money, prices
    • a) Rise
    • b) Fall. ed
    • d) Becomes
22. Q22 The trade-off between Unemployment and inflation is explained with the help of
    • a) Ricardian
    • b) Phillips
    • c) Marshall's
23. Q23 allows countries to specialize in goods and services
    • a) Production
    • b) Investment
    • c) Trade
    • d) Consumption
24. Q24 is a state where there is rise in the general price level
    • a) Deflation
    • b) Depression
    • c) Prosperity
    • d) Inflation 25.The relationship between productivity and has important implications for public policy
    • a) Investment
    • b) Living standards
    • c) Saving
    • d) Consumption. sayin,
25. Q2 Explain various types of cost. fafae (Marks 10)
26. Q3 What is Revenue ? Explain the concept of Total Revenue , Average Revenue and Marginal Revenue. Hegel ,
27. Q4 theory of 10)
28. Q5 State the features of Monopoly. (Marks 10) 7 Q6 Write short note on: (Any 1) : 1) (Marks 10)
    • a. Law of Variable Proportion
    • b. Money Cost and OpportunityCost. we
    • C. Innovation theory by Schumpeter. Raid
    • d. Wastages under Monopolistic Competition

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