W.B.C.S Main 2004 Optional Question Paper Economics.

W.B.C.S Main 2004 Optional Question Paper Economics paper 1

Group – A .Continue Reading W.B.C.S Main 2004 Optional Question Paper Economics.

1. (a)  Distinguish between returns to a variable factor and returns to scale.

(b) Write a brief note on the Cobb-Douglas production function.

(c)  A firm faces the production function Q = L6 k5  with input prices PL = Rs.12 and Pk = Rs. 24. (Q = quantity, L= labour, K= capital, PL = price of labour and Pk = price of capital). The inputs are equally productive, but capital is twice as expensive as labour. Find out the cost-minimizing input mix.    7+8+5

2.  (a)  How does a monopolist determine his equilibrium output and price ?

(b)  Explain why the profit-seeking monopolist always operates on the elastic part of the demand curve.    12+8

3.  (a)  What is meant by the optimum size of a firm ?

(b)  What factors determine the optimum size ?     6+14

4.  (a)  Distinguish between demand-pull and cost-push inflation.

(b)  What measures would you suggest for the control of inflation ?      8+12

5.  Do you think that an internally held public debt imposes a burden on the economy ?    20

Group – B

6.  Explain how the inconsistency between Say’s Law of Markets and the Quantity Theory of Money is related to the classical conception about the functions of money.     20

7.  (a)  What is meant by the marginal efficiency of capital ?

(b)  Discuss the factors which influence the marginal efficiency of capital.    10+10

8.  Discuss the role of international trade in the development of less developed countries.    20

9.  (a)  Distinguish between economic development and economic growth

(b)  Explain  the  ‘critical minimum effort’  thesis of economic development.     8+12

10.  Write short notes on any two of the following:

(a)  Leakages from the multiplier

(b)  Free trade Vs. protection

(c)  Role of technology in economic development

(d)  Expenditure tax.       10 x 10

W.B.C.S Main 2004 Optional Question Paper Economics paper 2

Group – A

1.  Examine the effects of the Permanent Settlement of land revenue that was introduced in India in 1793.

2.  What is the theory of demographic transition ?  Critics say that demographic transition is a fact not a theory.  Do you agree ?   Explain your position with reference to Indian experience.

3.  Do you think that foreign capital along with technology does, have an important part to play in India’s post-independent economic development ?  Carefully state your reasons.

4.  What are the principal reasons for the transition of Indian agriculture during the British period from self-sufficient family farming to Commercial Cultivation ?  What effects did it have on the economy ?

5.  “It is hard to agree with the classical view that money is a veil in the economy”.  Do you accept the statement ?  Can a monetary strategy be used to expedite economic growth in newly developing countries ?   Explain your point of view with reference to Indian experience

Group – B

Answer any two questions.

6.   A crucial element of the Industrial strategy of the Government of India in the post-independent period has been the pursuit of import-substitution oriented policies for industrial development. What is the rationale behind such policies ?   Briefly review such policies actually followed in our country.

7.  In the present Indian scenario there is a strong case for directed Institutional credit. Critically evaluate the statement against the backdrop of economic reforms and liberalisation.

8.  The ultimate objective of all developmental efforts is human development.  Do you agree ?   To what extent the Government of India has been trying in recent years to ensure higher economic growth with social justice ?

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