(ALL) Gauhati University Economics Major Question Papers

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Gauhati University Economics Major Question Papers

Gauhati University Economics Major Question Papers

2 0 1 5
ECONOMICS
( Major )
Paper: 4.2
( Introduction to Development Economics )
Full Marks: 80
Time : 3 hours
The figures in the margin indicate full marks for the questions


1. Answer the following questions: 1X10=10

(a) Distinguish between economic growth and economic development.

(b) Highlight the significance of the notion of the capital-output ratio.

(c) What do you mean by ‘commercialisation of agriculture”?

(d) Define the concept of GDP.

(e) What determines the rate of growth in the classical theory?

(h) What captures gender disparity in the adjusted HDI? 

(g) Who propounded the unbalanced growth strategy?

(h) On what basis are the countries classified as developed and developing? 

(i) What constitutes the ‘invisible land’ in the classical theory of growth?

(j) What is technical progress in growth literature?

2. Answer the following questions: 2X5=10

(a) Distinguish between GNP and GDP.

(b) Mention the characteristics of ‘stationary state’.

(c) What is Harrod’s ‘natural growth rate’? '

(d) In the classical theory of development, what postpones the onset of diminishing returns to capital?

(e) Define Adam Smith idea of ‘division of labour’.

3. Answer any four of the following questions: 5x4=20

(a) Why is per capita income considered to be an inadequate measure of economic welfare?

(b) In the Harrod-Domar model, a departure from equilibrium is self-aggravating rather than self-correcting.

(c) Explain how Ricardo explains the emergence of ‘stationary state’.

(d) Identify the obstacles to development that exists in developing countries.

(e) Explain the rationale for unbalanced growth strategy as opposed to a balanced one.

4. Answer any four of the following questions: lOX4=40

(a) Explain Lewis’s model of development with unlimited supplies of labour. Present a critical evaluation of the model. 7+3

(b) Explain how the Human Development Index is calculated. How is this index a better measure of human development than per capita income?

(c) Describe the interplay between economic growth and population.

(d) Explain how Myrdal explains unequal development in terms of back-wash and spread effect.

(e) Explain the factors that promote economic growth. Indicate the role of technical progress in the growth process.

(f) Elucidate the idea of the vicious circle of poverty. Present an appraisal of the theory vis-a-vis a contemporary less-developed economy.

(g) Present a comparative discussion on the writings of Adam Smith and David Ricardo on development. Are their ideas relevant for modern-day LDC economies?



2 O 1 5 
ECONOMICS
( Major )
Paper: 4.1
[ Mathematical Application in Economics )
Full Marks: 80
Time : 3 hours
The figures in the margin indicate full marks for the questions

1. Answer the following questions as directed: IXI0=10

(a) Total cost (C) =____+ total variable cost (VC). ( Fill in the blank )

(b) If c=100 +2Q—5Q², where c is total cost and Q is output, what is the total fixed cost?

(c) State Euler’s Theorem.

(d) Given the Cobb-Douglas production function Q=ALβKα. What do α and β indicate?

(e) In a two-person zero-sum game, a saddle point always exists. ( Write True or False )

(f) Obtain the total revenue function from the following marginal revenue function :
MR = 100 — O.5Q
where Q denotes the quantity of output.

(g) Determine the marginal propensity to save from the consumption function
C(Y) = 50+0.81½
where C is consumption and Y is income.

(h) What is a feasible solution?

(i) Who has written The Theory of Games and Economic Behaviour?

(g) Define elasticity in terms of AR and MR.

2. Answer the following questions: 2X5=10

(a) Given the total cost function,
C= 2Q² + 5Q +18
where Q is output level, find the output at which average cost is minimum.

(b) If the rate of investment is given by
I(t)=3t½
find the time path of the capital formation when K(0) = 50.

(c) Define pure strategy and mixed strategy.

Or
Discuss the effect of an increase in
(i) specific sales tax and (ii) lump-sum tax on the output of a monopolist.
(C) A monopolist discriminates prices in two markets of its product and his average revenue (AR) and total cost (C) functions are given by
AR₁= 60-4Q₁
AR₂= 42-3Q₂

where Q₁ and Q₂ are the outputs of first and second markets and the total cost function is given by

C = 50 +12Q, where Q = Q₁+Q₂

Find profit maximizing output, prices and maximum profit.

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