PUrd Sm.)-Leonomies- I-CC-S/CBCS) 2019 ECONOMICS — HONOURS Paper : CC -5 Full Marks : 65 The figures in the margin indicate full marks. Candidates are required to give their answers in their own words «as far as practicable. Group-A 210 1, Answer any fen questions (a) The average product of labour when three workers farm an acre of land is 200 bushels of wheat and the marginal product of fourth worker is 80 bushels. What is the total output of four workers? (by In a perfectly competitive industry with N identical firms and no external effects on factor prices, is the long-run industry supply curve more or less steep than the firm supply curv (c) For a production function Q = 20L, where Q denotes total output and L denotes labour, how does the total product curve look like? 0, = 10, at prices pj =2 and p;=6. She is also 5 p, = 3 and p= 5. Is her behaviour consistent with the (dy A consumer is observed to purchase q) ‘observed to purchase q; = 8, 4) = 4, at pri axioms of the revealed preference theory (e) Determine whether the following utility function exhibits risk aversion u(w) = w3, where w is the level of wealth, (AF What do you mean by quasi rent? (g) A lottery has three possible outcomes, & 100 will be received with probability 0.1, € 50 will be received with probability 0.2 and & 10 will be received with probability 0.7. What is the expected value of the lottery? (h) Ifthe isoquants are downward sloping straight lines and the isocost lines are flatter than the isoquants then draw the expansion path. (iy? Ifthe total factor earning from | acre of Jand is ® 100,000 and the minimum supply price of land is % 50,000, find out the amount of economic rent. ) Determine whether the following production function exhibits increasing, decreasing or constant returns to seale : Q = SOK®3L99. (k) A firm is producing with two factors of production capital (K) and labour (L). If w = & 50 a day and r= 100 per day, what is the equation of the isocost line if the firm chooses to produce output of @ 10,000 a day? (I). Ifthe labour supply function is given by L = 20W; wage and employment at equilibrium are 40 units and 800 units respectively, determine the economic rent. Please Turn OverQ) PiardSm.j-Economic (im) From the following table calculate Laspeyres price index ST —— oan of | Period | Price of Quantity of Price of Quantity o ; | food food purchased clothing _ clothing purchased | [0 P= 10 | Fy =10 Pc? = 20 Cy=3 | | 1 P,! = 60 | Pol= 24 | | (n) For the cost function C= Q?+ 1, find out the average cast and marginal cost functions and depict them in one diagram. (0) Suppose that a perfectly competitive firm has a production function Q = L°, If the price of the product is P per unit of output, what is the equation of the firm’s labour demand curve? Group-B 2. Answer any three questions : (a) Assume that a person's utility as a function of wealth (w) is given by u=w- aw; where a> 0,0 (m) Why Friedman's money demand theory is the restatement of the Cambridge equation? ff) What are the different components of My and My? > (0) Write down the forms of Deposit Multiplier and Currency Multiplier. Can you derive any other multiplier from these two? Mw Please Turn Over2) (snd Sm,)-Economies- SECTION-B 5x3 2. Answer any three ques (a) What are the basic tenets of Monetarism? {bf In the IS-LM model, show the impact of fiscal and monetary policies in the liquidity trap. (©) How does an increase in government consumption financed by taxation affect the endogenous variables in the Complete Keynesian Model? (@) Examine the connection between budget deficit, deficit financing and money supply with reference to Indian economy, (e) Derive the Phillips Curve from the Aggregate Supply Curve. SECTION-C 3. Answer any three questions : (a) “Mere addition of the consumption function by itself to an otherwise classical model really modifies the nature and conclusions of the model very little.” — Discuss the statement fully. 10 Examine the Friedmanite argument that while the short-run Phillips curve may be downward sloping, it is vertical in the long-run 10 Does government expenditure financed by deficit spending necessarily crowd out private investment in the IS-LM model? Answer on the basis of different shapes of IS and LM curves. 10 (b) &) (4) (i) What is involuntary unemployment? Gi) Discuss the causes of Keynesian unemployment equilibrium. ii) How does Prof. A. C. Pigou challenge Keynesian unemployment equilibrium by Real Balance Effect? 14544 te) Explain the Balance Sheets of the banking system as a whole, RBI and Commercial Bank and show the determinants of money supply. 3434341P(3rd Sm)-Economies-H/C 2019 ECONOMICS — HONOURS Paper : CC-7 Full Marks : 65 The figures in the margin indicate full marks Candidates are required to give their answers in their own words as far as practicable. Group-A 1. Answer any fen questions 210 (a) Find the relative frequency of the first class and frequency density of the second class for the following distribution : | Height of students | 151-155 | 156-160 | 161-165 | 166-185 (in cm.) | | No. of students | 5 wo | | ) (i) Find the median of 4, 5, 3, 2, 6. (ii) Find the median of 4, 5, 3, 2, 60. (iii) What favourable property of the median is illustrated by comparing the answers to (i) and (ii)? (ater) (c) Are the data n (a) 10, LX? = 400, ¥=7 consistent? Give reasons, The first two moments of a distribution about the value 2 are 1 and 16 respectively. Find the first two moments about zero. (€) Out of the two regression Lines given by 3x + 9y = 46 and 3y + 12x = 19, which one is the regression line of X on Y? (1) Define Type I and Type II error. (6) Find the probability of obtaining 4 in throwing two fair dice. (h) Examine whether the following funetion a probability function : uv 3 fo)=) 3, for eat 4 0, otherwise Please Turn Over(ard Sm. )-Economies-H/CC-7/CBCS | ” = (n) If X, and Q) I and 4 bas the linear density function ) A cont random variable having values only between 0 and 4 has the linear density function (i) A continuous random variable ha fe) (3 ay} Find the value of « i) Suppose that Y~ Bin (3.1/3). Find the mode of X. 4). 16-25% of the inhabitants of a city are consumers of tea, then find the probability that a sample of 10 inhabitants will contain exactly 2 consumers of tea (State whether the following statements are true or false (i) Poisson distribution mean and standard deviation cannot be equal Gi) Poisson distribution mode cannot take a fractional value Gil) Poisson distribution i always positively skewed. (i) yy (Gamma 2) for Poisson distribution cannot be zero. (a) State the conditions under which two discrete random variables are said to be independent, "2 are two independent random variables such that X,~ N(0, 1) and X>~ N(0, 1), then which of the following statements are true? (i) X)+X)~NOO, 1). (ii) X\? + X,? is a Chi-square variable. Gil) X,)/ YX +X? is at variable. x wy + follows F distribution, x. (0) What do you mean by point estimation and interval estimatior Group-B Answer any three questions. A variable assumes the values 1, 2, ...,7 with frequencies 12, 22, 7° respectively. Calculate the arithmetic mean of the variable, 5 Show that 1 1, where r is simple correlation coetticient 5 An integer is chosen at random from the first 200 positive er chosen is divisible by 6 or 8? integers. What is the probability that the 5 Consider the population {4,6 Consider the (4.6, pling distributio ¢ Fandom samples of size 2 without replacement from this Population Cal ee Se Of sample mean, Verity the result that E(x) ~ ve mean and standard error Tete2410. Mu. @) Parks ‘conomies-H/CC-7/CBCS ) of parameter @ are equal, which of irthe variances of independent and unbiased estimators T), Tz the following estimators of © would you prefer most 5 (1, +2T) + T3)/4, OT) + Ty + 2T3V5, (Ty +72 + T3)/3- Group-C Answer any three questions. (a) Examine how different measures of dispersion are affected if all values of the variable are doubled. (b) A variable takes only two distinet values a and 6 each with equal frequency. Find the vias (a) Suppose that two balls are drawn randomly from a box containing 4 red and 2 blue balls. Specify the probability distribution of the number of blue balls drawn. Find out the mean of the distribution. (b) State and prove Bayes’ theorem. (3+2)+5 (a) Find the mode of Poisson Distribution. (b) The average number of misprints per page of a book is 2. Assuming Poisson distribution, what is the probability that a particular page is free from misprints? If the book contains 1000 pages, how many of the pages contain at least one misprint? [Given e~? = .13534] +4 (2) Find out a measure of skewness and a measure of kurtosis for normal distribution and make comments. (6) Ifa continuous random variable X is distributed normally with a mean of 30 and a variance of 25, find out P(X > 40) given that P(-« Lo0s,9 = 3.25, toy 19 = 2.76, GH 1+s% 10. 12, 13. 14, 15, 2019 ECONOMICS — HONOURS Paper : SEC-A Full Marks : 80 The figures in the margin indicate full marks. Candidates are required to give their answers in their own words as far as practicable ATTEMPT EITHER SEC-A(I) Or SEC-A(D) | SEC-A() (Data Analysis) Full Marks : 80 Group - A Answer any fen questions. 2x10 What do you mean by Population? Mention two primary features of a good questionnaire, What is the meaning of Census? Mention the two basic problems in Census Data. What do you mean by Unbiased Sample Survey? . Mention two basic advantages of a Sample Survey over Complete Enumeration, What points should be kept in view during the tabulation? When we consider the Semi-logarithmic Chart to represent a data? What is the basic difference between Spreadsheet Program and Statistical Package? Mention the name of two popular Statistical Packages. Give a reason for the popularity of each package Write the broad categories of expenditure which are mentioned in National Account Statistics, What do you mean by Base Year in National Account Statisties (NAS)? What is the Base Year of New Series of NAS? What do you mean by Reference Period in Household Consumer Expenditure Survey? Write the primary objective of Post Enumeration Survey, Mention the two new features in the Questionnaire of Census 2011. Please Turn Overyard Sm.)-Ec? 16. 17. 18. 19. 20. 2 22. 23. 24, 25. (2) sEC-A/CBCS) Group - B four questions. Answer any. es pesoibe the classification of statistical Data on the bases of their sources hat is Ratio Chart? Briefly point out iS advantages over a simple Line Diagram. Describe step by step the method of calculation of su packages given below STATA, R, SPSS, Eviews, MS-Excel. inmary statistics of @ variable in any one of the What are the components of Production Account Table under its “Uses Side” and “Resources Side”? Discuss briefly about the National Population Register rom where do we get the bankewise information on liabilities, ass earnings and expenses of scheduled Indian Commercial Banks? Briefly describe the two features of this database. Group - C Answer any four questions. Describe the different methods of collection of numerical data and state their relative merits and defects. 545 What are the main differences between Attribute and Variable? Explain the Classification of Variable with suitable example, 446 (a) What is Random Number? How are they used in drawing Simple Random Sample? (b) Describe the different types of Sampling in Statistics. (34245 Accordin; S \ccording to NSS what is the concept of Monthly Per Capita Expenditure (MPCE)? Briefly discuss the concept of th omit i Pesce ma orion an MPCE distribution. Write something about the Fractiles in the tabulation of data in NSS 681 ISS 68th Round Report. 24345 tattan andG) SEC-A(I) (Rural Development Theory) Full Marks : 80 Group - A 1. Answer any ten questions @) ®) ) @ © o @ ® @ dD Jk) Q # (n) () Define rural development, What are the basic elements of rural development? On which criteria, the demarcation between rural and urban area are made? What do you understand by rural non-farm sector? Distinguish between micro planning and macro planning. 2 What are the main challenges confronting India’s agricultural sector? 2 Mention four important characteristics of rural credit. 2 Who founded Grameen Bank in Bangladesh? What is its main objective? 1H What are the main functions of Regional Rural Banks (RRBs)? 2 What is meant by micro credit? 2 What does SIDBI stand for? What is its main objective? iaae What is the main reason behind linking the Self Help Groups (SHGs) with banks? 2 What is PMGSY? When was it launched? 2 ‘When was the West Bengal Panchayat Act passed? What does this Act stipulate? 1 Which rural development programme secks to reduce school dropouts in rural areas? When was it launched? iH Group - B Write short notes on any four. 5x4 Role of Non-Governmental Organizations (NGOs) in rural development. Distinction between Parti Constraints faced by micro enterprises in rural areas. Micro-level planning as a tool to promote rural development. Important characteristics of India’s rural sector. Working of Panchayati Raj Institutions (PRIs) in West Bengal. ipatory Rural Appraisal (PRA) and Rapid Rural Appraisal (RRA). Please Turn Over(Prd Sm.)-Economi -H/SEC-A/CBCS | (4) Group - C Answer any four questions (a) Explain the role of the rural non-farm sector in the development of Indias’ rural economy. (b) What policy measures have been adopted by the Government of India to promote the growth of this sector? a 9. Discuss some of the major problems of rural industrialization in India. 10 10. (a) What are Self Help Groups (SHGs)? (b) Mention the important features of SHGs. (c) Explain the reasons behind formation of SHGs. 24345 11. (a) Define decentralized planning, (b) Explain the implication of participatory development as an important aspect of decentralized planning. (©) Distinguish between participatory development and participation in development. 2444 12. (a) Identify the major sources of funds for rural development (b) Discuss the role played by the National Bank for Agriculture and Rural Development (NABARD) in the context of rural development. 347 13. - Critically evaluate the roles of (MGNREGA) and (b) National Ri (a) Mahatma Gandhi National Rural Employment Guarantee Act ural Health Mission (NRHM) as rural development programmes. 5+