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  • W.B.C.S Main 2002 Optional Question Paper Economics.
    Posted on January 17th, 2019 in Economics
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    W.B.C.S Main 2002 Optional Question Paper Economics.

    W.B.C.S Main 2002 Optional Question Paper Economics paper 1

    Group – A.Continue Reading W.B.C.S Main 2002 Optional Question Paper Economics.

     

    1.  (a)  Explain the difference between marginal cost and average cost.

    (b)  Is it true that the marginal cost would be the same when computed from variable cost as from total cost ?   Explain.

    (c)  What is meant by opportunity cost ?      5 + 7 + 8

     

    2.  (a) How does a competitive firm decide on the amount it will supply ?  Draw diagram to explain your answer.

    (b) Bring out the main characteristics of a perfectly competitive market.

    (c) Mention some of the sources of market imperfection.      10 + 5 + 5

     

    3.  (a) If the consumer is consuming exactly two goods, and he is always spending all of his money, can both of them be inferior goods ?  Give your reasons.

    (b) Distinguish between the Hicks substitution effect and  the Slutsky substitution effect of a price change.     10+10

     

    4.  It has been argued that firms almost never set prices by aquaring marginal revenue to marginal cost. They follow instead what is known as mark-up pricing principle.   Do you think that this principle has a strong rational basis  ?  Fully Explain.      20

     

    5.  (a) Do you think a consumption tax tends to be more favourable to saving than an income tax ?  Give your reasons.

    (b) Which type of the above tax you advocate for developing countries and why ?     12 + 8

     

    Group – B

     

    6.  (a) What is “crowding-out effect” ?

    (b) The crowding-out effect suggests that expansionary policy will exert less impact on aggregate demand than the basic Keynesian model implies.  Discuss briefly.      6 + 14

     

    7.  Assume that the people expect that inflation will increase. What effect would that produce on the long term rate of interest ?     20

     

    8.  (a)  Define “high-powered money”.

    (b)  How does money affect the economy ?

    (c)  What are the “excess reserves” of a bank ?     4 + 2 + 4

     

    9.  (a)  Why does LM curve slope upwards ?

    (b)  If a Central Bank were to set monetary policy to maintain a constant exchange rate.  what type of LM curve would be the central bank to achieve its objective ?  Explain.      8 + 12

     

    10.  Write Short Notes on the following (Any two)

    (a) Technological dualism,

    (b) Sustainable development,

    (c) Paradox of thrift,

    (d) Stolper-Samuelson theorem.

    W.B.C.S Main 2002 Optional Question Paper Economics paper 2

    Group – A

    Answer any three questions.

     

    1.  Discuss the evolution of the Indian Currency from the Silver Standard to the Gold Exchange Standard.

     

    2.  Analyse the different phases of railway development in India from 1853 to 1947.

     

    3.  Critically examine the empirical finding in a majority of farm studies theat there is an inverse relation between farm size and productivity.

     

    4.  Describe analytically the role of trade unions in fostering economic development in India. What are their weaknesses  ?

     

    5.  Comment on the nature of institutionalization of rural credit in India.  Discuss in this connection the role of the NABARD in providing rural credit.

     

    Group – B

    Answer any two questions.

     

    6.  How do you justify that an “economic drain” from India had taken place in the second half of the nineteenth century ?

     

    7.  What are the main limitations of the licensing policy followed till recently in India ?  Do you consider the recent liberalizations introduced in the policy adequate for an economy that is opening up internationally ?

     

    8.  Examine the role of economic planning against the backdrop of the liberalization policy currently being followed in India.

     

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