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    Rakesh Gampa
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    1. The document contains long and short questions related to macroeconomics topics such as aggregates, business cycles, monetary and fiscal policy, exchange rates, inflation, unemployment, trade and globalization. 2. Some of the long questions ask about depicting the macroeconomic circular flow, explaining why aggregate expenditure and income are not equal, discussing the phases and causes of business cycles, and analyzing regional economic integration. 3. The short questions define and distinguish terms like GDP, GNP, inflation types, exchange rate regimes, and unemployment measures. They also explain concepts like the Lucas supply function, Mundell's assignment rule, and the paradox of thrift.

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    1. The document contains long and short questions related to macroeconomics topics such as aggregates, business cycles, monetary and fiscal policy, exchange rates, inflation, unemployment, trade and globalization. 2. Some of the long questions ask about depicting the macroeconomic circular flow, explaining why aggregate expenditure and income are not equal, discussing the phases and causes of business cycles, and analyzing regional economic integration. 3. The short questions define and distinguish terms like GDP, GNP, inflation types, exchange rate regimes, and unemployment measures. They also explain concepts like the Lucas supply function, Mundell's assignment rule, and the paradox of thrift.

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    31 views3 pages

    Modified Question Bank-ME

    Uploaded by

    Rakesh Gampa
    1. The document contains long and short questions related to macroeconomics topics such as aggregates, business cycles, monetary and fiscal policy, exchange rates, inflation, unemployment, trade and globalization. 2. Some of the long questions ask about depicting the macroeconomic circular flow, explaining why aggregate expenditure and income are not equal, discussing the phases and causes of business cycles, and analyzing regional economic integration. 3. The short questions define and distinguish terms like GDP, GNP, inflation types, exchange rate regimes, and unemployment measures. They also explain concepts like the Lucas supply function, Mundell's assignment rule, and the paradox of thrift.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 3

    Dr UB Raju

    Macroeconomics
    Abridged Question Bank
    Long questions 1. Macroeconomics is the branch of economics that studies economic aggregates. List five aggregates that you consider as most important and discuss them in the current context of Indian economy. 2. Depict the macroeconomic circular flow of spending and income in Four Sector model. 3. Aggregate Expenditure (AE) and Income (Y) are not necessarily equal. Discuss with illustrations. 4. Business cycle is the rise and fall of economic activity relative to the longterm growth trend of the economy. Discuss the phases and causes of business cycles with current examples. 5. Discuss the cross classification of macroeconomic variables in terms of direction of change and time of occurrence during business cycles with examples. 6. Control over the money supply is a critical policy tool for altering macro outcomes. Examine the statement with respect to the recent actions of RBI. 7. India is currently following a tighter monetary policy and easier fiscal policy. Is this monetary-fiscal recipe appropriate based on the current state of domestic economy and state of its BOP? Why or Why not? Elaborate. 8. Briefly present the reasons for the recent weakening and subsequent recovery of rupee against US Dollar. 9. Regional economic integration only makes sense when the amount of trade it creates exceeds the amount it diverts. Discuss. 10. The current economic crisis of European Union (EU) can be ascribed to its state of monetary integration without fiscal policy harmonisation. Elucidate.

    11. (a) What are four types of unemployment? (b) Full employment does not imply 100% employment. Elucidate. 12. Distinguish between Balance of Trade (BoT) and Balance of Payments (BoP) and critically evaluate them with respect to the current state of Indian economy. 13. Distinguish between Balance of Visibles and Balance of Invisibles outlining their importance. 14. Stagflation is a combination of falling real GDP and rising price level. Discuss the phenomenon with examples. 15. (a) Distinguish between Tariff and Non-tariff barriers. (b) The case for free trade is based on the theory of comparative advantage and when tariffs and quotas are imposed, some of the gains from trade are lost. Elaborate with examples. Short questions 1. Distinguish between devaluation and depreciation of currency. 2. Distinguish between Fixed and floating exchange rates of currency with example. 3. Distinguish between GDP and GNP with illustration. 4. Distinguish between Demand-Pull and Cost-Push Inflation. 5. Distinguish between Hedging and Speculation. 6. What is Seigniorage and mention its implications. 7. State and explain Lucas Supply function. 8. Explain Mundells assignment rule. 9. What is Paradox of Thrift? 10. Explain the Fisher effect. 11. Explain the term Phantom Unemployed. 12. What is NAIRU? Explain its significance. 13. Draw and explain the Laffer curve.

    15. Explain 16. Heckscher-Ohlin theorem

    16. What is Leontief Paradox 17. Explain International product life cycle trade theory 18. Explain Crowding out effect

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