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15.5. Examination, 2024 | SGSE-M-GNM |
GENERAL ECONOMICS
Paper - II
Time Allowed : Three Hours Maximum Marks : 200
Question Paper Specific Instructions
Please read each of the following instructions carefully before attempting
questions :
There are SIXTEEN questions divided under THREE sections.
The ONLY question in Section A is compulsory.
In Section B, SIX out of NINE quesiions are to be attempted.
In Section C, FOUR out of SIX questions are to be attempted.
Candidates should attempt questions/parts as per the instructions given in the sections.
The number of marks carried by a question/part is indicated against it.
Candidates are required to 107776 clear, legible and concise answers and 10 adhere to word
limits, wherever indicated. Failure to adhere to word limits may be penalized.
Attempts of questions shall be counted in sequential order. Unless struck off, attempt of a
question shall be counied even if attempied partly.
Any page or portion of the page left blank in the Question-cum-Answer (QCA) Booklet must
be clearly struck off.
Answers must be writien in ENGLISH only.
SGSE-M-GNM ৷ 1
SECTION A
(Compulsory Section)
୦1. Answer the following questions in about 100 words each : 5x6=30
(a) Distinguish between Mercantilism and State Socialism. ೩ 422
0) Explain the concepts of Real GDP and Nominal GDP. Which is a better
indicator to measure economic performance of a country ? 342
(c) The origins of Keynesian Revolution can be found in the problem of
unemployment. Explain. 5
(d) State and explain the trade creation and trade diversion effects of
Customs Union. 2 ध +2
ন 2 2
(6) ` Explain how Current Account in Balance of Payments is different from
Capital Account. 2 < 425
0 ` What is a Derivative Market ? Explain the merits and demerits of
SGSE-M-GNM
derivative market. 243
SECTION B
Answer any six out of the following nine questions in about 200 words each :
Q2.
03.
૦5.
07.
. ९8.
౧9.
০10.
15x6=90
What is National Income ? Why is measurement of national income done ?
What changes are brought into the basic equation of a two-sector model with
the introduction of government sector ? ۶ 3+5+7
The economic ideas of J.S. Mill are essentially rooted in the economics of Adam
Smith and David Ricardo. Explain. 15
What are the similarities and differences between the Fisherian and
Cambridge versions of the Quantity Theory of Money ? 7+8
State and explain the components of equity market. How does trading take
place in the equity market ? 9+6
In the Harrod model there is no automatic mechanism that will ensure the
equality between s/v and n. Explain. 6
Explain the non-tariff barriers to trade. What are their implications on
international trade ? 10+5
Explain how Kaldor’s model of economic growth has solved the problem of
discrepancy between the warranted rate and natural rate of growth. 75
State and explain the Foreign Trade Multiplier. Examine its implications on
international trade of a country. 10+5
What are the major objectives of IMF ? Do you agree that the IMF has
succeeded in addressing global financial problems ? 7+8
SGSE-M-GNM 3
SECTION C
Answer any four out of the following six questions in about 300 words each :
౧11.
౧12.
౧1౩.
౧14.
015.
౧16.
20x4=80
What is Green National Income ? How is it computed ? Explain why
Green National Income accounting is essential for sustainable human
development. 5+5+0
State and explain Stolper-Samuelson Theorem. What are its implications ona
labour-abundant economy ? 10+10
Explain disequilibrium in the Balance of Payments. Elucidate the monetary
and non-monetary measures to correct disequilibrium in the Balance of
Payments. ° 5+15
Explain Human Poverty Index (HPI) as a measure of Human Development.
How is it different from Physical Quality of Life Index (PQLI) ? 15+5
Critically examine the role of Multinational Corporations in the global
economic development. ८ 20
Differentiate between Demand-Pull Inflation and Cost-Push Inflation.
Describe in detail their causes and impact on the economy. Suggest
appropriate policy measures to control inflation. 5+10+5
SGSE-M-GNM 4
