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 6 C.U. Economics (Hons.) Q. P. (Part-I& Il)-2013
(a) The governnent introducestaN on ice cream whichi spaid
producers. Whatis tlhe eflectin the ice cream market?
(b) India and Bangladesh are major producers of textilcs; Tev:
workers inIndia dccideto go on strike. Showthe cffect onthe
for Indian textiles. marke
(c) Show the eflect on the situation dcscribed in (b) on thc hartk
for Bangladeshi textiles. 2+2+
oa) Ifthe clasticity of demand for ice crcamwerc how muc
wouldquantity demanded fall ifa decrcase in supply raiscd the pric
by 10 per cent?
(b) Ifthe income clasticityof demand for fish werc 2. how muct
wouldthe quantity demanded increase if buyers' income rosc by
per cent?
7Suppose that government initiates media campaigns ana
labelling requiremcnts aiming at making the public aware of cigarcte
smoking. At the same time, the tobacco farmers are provided wit
Price Support Programme raising the price of tobacco above the
cquilibrium price. Using demand-supply diagrams show how these
programmeaffect cigarette consumption and pricc of cigarettes?
8. Consider the market for firc cxtinguishers:
(a)Why might fire cxtinguishers exhibit positive cxternalitics?
(b) Dravwagraph of the markct for firc extinguishers. labelling th
Demand Curve. the Social-value Curve, the Supply Curve and thc
Social-cost Curvc. Indicatc the market equilibrium levcl of output and
the efficient level of outputs.
(C)Can thegovernment do anything to enhance efficiency in this
situation? 1+3+2
9. Therc are four consumers willing to pay the follovwing amounts
for haircuts:
A: Rs. 7/-, B: Rs. 2/-, C :Rs. 8/-, D : Rs. 5/
There are four hair cutting businesses with the following costs:
Firm1: Rs. 3/-. Fin2:RS. G/-, Fim 3:Rs. 4/- Firm4:Rs. 2/
Each firm has the capacity to produce only one hair cut.
(a)For cfliciency. how many hair cuts should be given?
(b) Which businesses should cut the hair and which.consunes
should have their haircut?
(c) What is the maximum possible total surplus? 2+2+2
 (English Version]
Section A
Answer any five questions
1.Consider an cconony where the total sales receipts fronm whcat.
If the
lour. brcad andsandwich are 23, 53. 110 and190 respectively. value
cconomy produccs only those 4 products. prove that the total
added in the cconomy is equal both to the final sales procceds and4
the total factor carnings.
2. Below aresome data from country A:
Year Price per Quantity Price per Quantity
good X (Rs.) of good X good Y(Rs) ofgood YY
10 8 75
2005
200 10 75
2006 14
350 10 125
2007 14
Computenominal GDP, rcal GDP and GDP deflator, using 2005
(a)
as the base year. GDP. real GDPand
percentage change in nominal
(b) Compute the year.
GDP defl:ator in 2006 and 2007 from the preccding ycar. For cach
whichvariable docs not change? why? 14+1}+1
 C. U. Economics (Hons.) Q. P. (Part-I& II)-2013
(c) Did conomic well-bcing risc more in 2006 or 2007? Why)
3. Prove the following statement:
"The sum ofPrivate S and Public S iscqual tothe sum of PriVat
land ForeignI.
In rocent decades, women have worked morc hours in pajd int
and fewer hours in unpaid housework.
(a) How wouldthis incrcasc in work hoursaffcct GDP?
(b) Explainwhy thischange in mcasurcd GDP will ovcrstateth
true change in output.
5. Consider the following S function for the ycar 2013,
S= 70+ 0.2Y, where Y, is the weighted avcrage of the income
levels in 2011 and 2012, Thc levcls ofY arc 3,000 and 4,000 in 201 l ane
2012 respectivclywith 0.75 bcing the weight attached to 2012's incom
(a) Calculatc the Cand Sfor 2013.
(b)Calculate MPC, APC. MPS and APS for 2013.
6. Explain the difference betwcen saving and investment. Which
of the following situations represent investment? Saving? Explain.
(a). Aborrows Rs. 1,000 from a-bank to buy a car to use in his
pizza delivery business.
(b) B'uses his pay cheque of Rs. 200 to buy Larscn & Toubro
stock.
(c) Cearns Rs. 100 and deposits it in her account at a bank.
(d) D's family takes outa mortgage and buys anew house.
2+4+4+4+4
7. (a) Prove that the employment N is cqual to the labour force L
times one iminus the unemployment rate u.
(b) When does an unemployment rate become the natural
unemployment rate?
8. Suppose the T-account for XYZ bank is as follows:
Assets Rs.Liabilities Rs.
Reserves 1.50,000,00 Deposit 4,00,000.00
Loans 2,50,000,00
(a) IfRBI requircs banks to hold 10% of deposits as reserves: how
much inexcess reserves docs XYZ now hold?
(b)Assume that all other banks hold only the required arnount o
reserves. If XYZ dccidcs to rcduce its reserves to only the rcquireu
amount. by how much would the cconomy's moncy supPply increase?
242
 Sccond Paper-2013 11

Section -B
6×5
Answer any five qucstions
slopeof a
o Discuss the underlying reasons for the downward 6
macrocconomic AD curve.
Economists and policymakers nonitor both the GDP dcflator and
10 But what
ConsumerI Price Index to gauge how quicklycause prices are risingdiverge? 6
important differencès that can them to
are the two causes and effects of stagflation.
IL (a)Discuss the possible
cost to be borne by the economy for coming out
b) What is the 3+3
stagflation?
fronm the situation ofbasic macroeconomic identity and slhow why the
12. Explain the be cqualto total
domestic and foreign, must always
1otal invcst1ment, 6
saving of an cconomy. changes more than consumption along the
13. When income what should be the properties of the
consumption function implications for MPCand MPS
consumption function? What are the 3+3
in this case?
changes in the rate of interest influence the
14. (a) Howdo the
decision to invest?
interest emains unchanged. how the
of
(b) Even if the rate change? 3+3
investment decisions may roles played by (a) increased capital
IS. Do you think that the less the same in the
population are more or
stock and(b)increased 3+3
process of development? 'relative prices' and 'absolute level
the
16. Distinguish between
of the cconomy contribute to thcir respective
of priccs'.Which parts 3+3
determinations? SECOND PAPER-2013
(Group-A)
(Statistics for Economics)
Full Marks-50

8x¢
 (Part- I & II)-2013
14 C.U. Economics (Hons.) Q. P.
|English Version]
SECTION-A

1. Answer any five questions:collecting primary data? Whick

(a) What are the mnethods of
method do you prelcer and why? when the class widths are uncqual
24)
(b) Canvou draw Histogram an efficient technige
the Histogram is used as
State the cascs when 242
for represcnting the data.
measure of central tendency will bes
(c) State with reasons which
describe the following cases :
(i)Atcacher has made a tallv ofthe numberof timescach colouro
used by a kindergarten class. She is to decide a suitable
crayon was determine the favourite colour of
measure of central tendency to
crayon for the class. posted. Allstudents takine
(ü)The testgrades on Economics are
scored over 75. Unfortunately, 4 students were absent for the
the test
0. Assuming that r0 Score
test and the computer listed their scores asmcasure of central tendenc
what
is repeatedmore times than the 0's. data ? 2+2
would give the best represcntation of the
and Chain-base methode
(d) Distinguish betwcen the Fixcd-basc
of constructingan index number. distribution is 9. What
(c) The standard deviation of asyInmctrical
central moment in order
value can yousuggest for the fourth order
that the distribution is platykurtic?
() State and prove Bayes' thcorem.
symmetric
(g) Abinomial distribution with n=36 is known to be
Find its mcan and standard deviation.
and Nc
(h) Distinguish betwecn Gross Reproduction Rate
Reproduction Rate.
SECTION-B
Answer any five questions
2. (a) Discuss the measuremnent of cconomic inequality usin=
Lorenz curve and Gini coefficient.
(b) 1f the coefficient of skewncss (in terns of quartiles) is 02
quartilc dcviation is 8and the first quartile is 16. find the median of
distribution.
 Sccond Paper-2013 15
Calaulatc Fisher 's idcal index from the follrwing data, a1dchk
whcther it satisfics both thc timc revcral and factor rveral fests:
Cornmodity 200) 2010
Pricc Expenditure Prie
(Rs.)
Expenditure
(Rs.) (RS.) (Ps)
A 8 120
B 120) 12
C 5 4) 5
D 4 56 3 )
E 2) 100 25 15)

4. (a) Four roads lcad away from a jail. Aprisoncr cscaping from
the jailand sclccts a road at random. If road I is sclectcd the probability
ofescaping is 1/8, for road Ilitis l/6, for road IIl it is 1/4 and if road IV
issclcctcd the probability of cscaping is 9/10. Find the probability
that the prisoner will succecd inescapíng.
(b) If P(B)>0. definc the conditional probability P(AJB). 4+2
5. The probability mass function f(x) of arandom variable Xis
.except at the points X=0. I, 2.and f(0)= c. f( I) = 2c - 3c'.
f(2) = 4c-1.
i) Deternine the value of c
(i) FindP(X>0|X<2). 2+4
6. (a) APoisson variate is such that P(X= l)= 2P(X= 2)find its
mean and varianoe.
(b) State with justification whether cach of the following is True
or False :
i) The cxpectation ofa random variable cannot be negative.
(i) If Var(x) =0. then all values ofx are cqual. 343
7. (a) What is astandard normalvariable? Why is it nccessary to
CoINert a normal variate to standard normal variatewhile solving
problems?
(b)The Larks obtained by a group of students foracertain subjcct
arc assuncd to be normally distributed with mcan 65and standard
e iation5. If3 students are taken at random from this sct. what is the
prcbability thatexadly one of then willhave marks above70? (Given
)=0%413| 3+3
16 C.U. Economics (Hons.)Q. P. (Part- I& II)-2013
8. What is a momcnt gencrating function? Undcr what
conditiors
a binomialdistribution is approximated by Poisson distribution? .
Considcr the following two binomial distributions (n = 50, P,
0.30) and (n = 50,p=0.55). which one would be more symmctric?Ghe
rcason in favour of your answer. 242-2
9.(a) For the variables x and y. the cquations of the tWO regressie
lincsare 4x +y= 52 and x+y=32. Find the correlation cocfficien
betwecn x and y.
(b) The sum of two regression cocfficients is 1.4 and the correlatio
cocfficicnt is 0.75. Do you agree? Justify. 3-3
SECOND PAPER-2013
 what equations?
Why?
lhree differentiable.
where notfunction ofobservations:
will (b) (b) (a) theWrite atp= at3Fromn 2.
=0.(x)f" An quadrants A A p=
Ifthe a) function ldentify
State (d) (c) (b) (a)
be Is
inflexional (x) f down 15/unit, 12/ Ifa
eonsider
yourthird Ifb=c=0,
and Ifa Ifa
it as unit, a =0, =0. =
possible TRUE the th e prove
swer?
equation f(x) of q linear 0,the
following functional
th e q= b=0. c=0, is
x+3y 10
2x+y=8 =
X+y= value may or =50 35 the function
the Answerfiveany
to Cartesian is
FALSE demand function
it is |English
Version]
is get have unitsunits Euler's is it th e
of a Section-A
replaccd a a statements relationship quadratic
still
function f(x)
solution function a
local and Plane theoremn.
curve,
function? quadratic? a a =
justify ax?+bx+c
by maximum
the to
f(x) does function?lincar? qucstions
relatingbetween we
equation th e can with this
have
following only examples: at function
a to q
x occur point a and the
+ single-valued
3y where p. following
=9, systein at lie? In I+1+1+1
a which
3+1 then point it 1+3
of is
consisting and following
function have the funçtion. costlimit 8]: whose 20
I output
Vitamin Hence 12. l1. A(c) Average (b) (a) Je verify
(b) U. 7. 6.
reaches the of 8
qThe (a) pay-off Is
person
A Derive Find sameShow Write
ConsiderT 60 Use Deterninc the
determine
of given the
out function down
units total For gamathe production
two A anvalue. that, law the Economics
to the by matrìx
needs extreme the co_tCofa
ofthe of Plaver A Concept
food
maintain expression clasticity when the output=distributivity. three-sets the
its (A). T(x)
equationC=50+ Answer for
items three expressions nature iunction
shape player of (Hons.)
U=U(x,y) x'y² =
value? reaches A to per dominance
goodkinds A 37|1|
any 2658 5| (b)
and I and of be day. factory Section-B
= of
for thc a [4, five 4|36 Player
132 B A Y, thec Y
of a Total
lhcalth.
curvature.
I . Find 5, is following = log
m Q.
nutrients, level Totalrelative a for per given 3(2) P.
Prices the
function. 3q. questions 6], and
function
curve the day (Part-I
X;
His Marginal The B=[1,3, below:solvethe +4
optimum, domain is X;
of a timc
these dietviz., corresponding factory
function homotlhctic &
Tat 6, paths: I)-2013
Calcium. is function and following
foods,
assumed the M
8
has Jand
point and range of
a itsC=[1,2
fundio
nutri t0 Prole 2+2t 243 A (M) 242+ cápacit
of
to wh m
 Second Paper-2013 21

contents in these foods and minimum daily requirements of the

nutrient contents are prescnted in tlhe Table below
Table : Prices and NutricntContcnts of Foods
Price |Food-I(per kg) Food-II(per kg) Minimmum
perunit 60 paise Irupcc Daily roquiremen
JCalcium (unit) 10 20
Protein (unit) 20
Vitamin Afunit) 2 6 12

Formulatea linear programming problem on thc basis of above

information.
Also find out its dual problem.
13. Write down the conditions requircd forfindingout theextreme
value(s) of a functian Z-Z(x,. x, ).
Derivethe extreme valuc(s) of the function
Z= Z(x,, x,)= 2xj +t x,x, +4x+x,x, +x; +2
cquatton
14. Findthe general solution of the following differential
Y"()+6y'() +9Y() =27
Definitize the solution witlh the initial conditions
Y(0) = 5, y' (0) =-5
demand vec or
w5.Given the input-coefficient matrix and the final
f0.3 0.2| f501
A= and C=|
02 02 [50
the optimum output levcls of the two goods. Suppose that
find
and 0.1 are labour cocfficients of tlhe two goods respectively. If
0.2 cconomny? 42
L= 100, will there bcuncmployment in the
whosc pay-offmatrix
to. Consider a two-person zero sum game
for player Ais given below.

pure strategy. Hence.

Show that the above gamehas no solution in 2+4
solve it in nixed strategy.
Econ. Hons. (Part-l) /6
 MI% S+8

|English Version]
Section-A
Answer any five qucstions
Answer any five questions :
(a) Rima lives in aworld of 2time periods: "today' and 'tomorrow'.
interest
At the beginning of cach period she carns Rs. 210/-, If the lifetime
rate in cach period is 0.5, wlhat is the present-valuc of her
income? Draw her intertemporal budget linc.
(b)Consider a production functionQ = I50 L, whcrc Q is toal
output, and L is the quantity of labour cmploycd. How docs thc total
product-cure look likc? Canyoudescribe thec corresponding Average
Product and Marginal Product Curves? 4
(c) Decompose the cffect of change in relative price into income
and substitution effects when two goods are perfcct substitutes.
(d) (i) Bygovernment regulation, suppose a firn must haveto pay
a fixcd amount as tax every ycar, independent of whcther itproduces
anytlhing or not.How does i alfect frrm's fixcd, marginal and average
total cost?
24 C.U. Economics (Hons. ) Q. P. (PartI& I)-2011

() 1 I Calt 411 A WIA B Ps 100-0

() 41 J, AfPH AQB AG Q, fa1 e4 44i

NAE (rcaction function) 1 41() et4tr

MP
MP 1 MP
MP 2

|English Version]
Section-A
1. Answer any five questions
Answer any five questions :
(a) Rima lives in a world of 2time periods: today' and
Atthe beginning of cach period she earns Rs. 210/-, If 'ttheomorro
rate in each period is 0.5, what is the inte
income? Draw her intertemporal budgctprescntvaluc
linc.
of her lite
(b) Consider aproduction function Q= 150 L, where QIS
oulput, and L is thequantity of labour employcd. How docs the
product-curve look likc? Can youdescribe the corresponding A
Product and Marginal Product
(c) Decompose thc effect ofCurves?
change in relative price intoinco
and substitution effccts when two goods are perfect substitutes
(d)(1) By government regulation, suppose afinn must have
afixcd amount as tax every year, independent of whether it prod
anythingor not. How does it affect frrm's fixed, marginal andave
total cÓst?
 Third Paper 2013 25

ii) If that tax is proportional to the quantityof output. the firm

produces, how will it allect firm's fixcd, marginal and averagetotal
cost?
Jnaperfectlycompctitive nnarkct why do firms cntcr an industry
will be zcro.
whenthey know that in the long-run the cconomic profit
o Whcn docs cNCCSS capacity cxist in a monopolistically
Conpetitive mark?
() Explain whythe labour supply curve is backward bending in4a
compctitivc labour markct
ih Statc First and Sccond Fundamcntal Theorcms of Wclfarc
4
Economics.
Section B
2.Answcr any five qucstions: intcrestcd in tca and would be
(a) Bibhu is first and forcmost s1nallest additional
willing to forgo any quantity of brcad for thc given, he prefers
quantity of tca. However. if thetca consumption is the indifference
1o havenmorc brcad rather than lcss. Can you draw
drawan indifTercnce cuve.
curvcswith this prcference pattern? Ifycs.smooth continuous demand
Ifno.cxplain the rcason. Can you derive a answer. 6
curve with this prcference pattern? Justify your
(b) Antara rcccives an allowance of Rs. 9 pcr wcck which she
on chanachur and bhclpuri. Chanachur costs Re. I
spends cntircly
platc. X denotcs the quantity
per 100 grams and bhclpuri Rs. 1.50 per
of chanachur and Y denotcs that of bhclpuri.
() What is the budget equcation of Antara? bhclpuri in terms of
(1) Obtain opportunity cost of aplae of
chanachur.
If Antara clhooscs to spend her cntire allowancc cithcr on
(11i) or hov much of
chanachur or on bhepuri, how much of chanachur
bhclpuri will she consume?
line, ifshechooses toconsume
(iv)Will Antarabe on her budget chanachurper
blhelpuri and 300 grams of weck? 1+2+2+I
*plates of (wo commodities X and Y at
(C)Supposc a consumer consumes las imcone M= 8 and his
priccs p =2 and p =1. Thc consumer
consumcrsdemand
Initial consumption bundle is X* = 2, Y* =4. The
M
. Suppose the pricc of X falls to 1.
function for X is: X= 2P,
 CU EaINmis(Hons ) QP (Part-I& ll)-203
(OHow mch NdoNs he oonsune now
(DHou dos his eNJNnditure on Y change aer the price fall
()DnIse the total change in demand due to pricet
sutbstitution e t and inome elivt fall int
(doDsthefollowing prauction nction follow
Ql00L eK diminishing
marginal prxtutiity pnncplennd diminishing returns to scale
nCan vou think ofasiuation in which slort-nun marginal coet:
less than long-n1n maginal cost?
(e)Aoyiive industyis in long-n1n cquilibrium. Asales tav:
then placdon allfirns in the industry. What do you cxpcct to hapn
o the pne ofthe pratat, tle numterof firnns in the industry and th
output of cach fin in the long-nun? 6
O0Anonolis can produe at aconstant marginal and avera
ost of Rs 5The market dennandcurve faced by the producer is O=
S3-PCalculate the profit mximizing price-quantity combination a
profit for the monopolist. Howdo the output level and profit of thie
individual change. ifhe operates in perfectly compctitive structure?
(i)Can vou identify and calculate the deadweight loSs with the
help of a diagram, when the conditions of producer'sactivitics changg
from perfect competition tomonopoly? 2+2+2
(g) The duopolists Aand B fae an inverse denand functionP:
100 - Q. where P is the price and Q = Q+ Q, is the total outpu
producd by the two firms togcther. Each firm hasa constant margind
cost equal to 10
() Suppose Abelieves that Bis going to produce Q,. Derive A's
reaction function.
() Findthe outputs ofAandBin Cournot equilibrium. 3+3
(h) )Under aperfectly competitive scenario. supposethe margini
product of a worker is 5 units per hour and cach unit is sold in the
market at Rs 6. The firm owner has to pay Rs. 40 per hour (o the
worker. Explain wheher the ow ner will hire ihe worker.
(1) Inan econon1y. clothing and food are produced with the help
of labour and capital. Suppose w =r= Rs. 4 per hour. In clothing
production MTL 2 and in food MP 1 Is this
MPK production MP6
economy efficient in production?
In which sector. relative allocation oflabour slould be increased
2+4
 EA (Golden rule lcvel) y s313f1ft t1A

|English Version]
Section A
Answer any five questions the relation.
1. In case of government budgct deficit. cxplain
private saving with investment in a closed cconomy.
surplus ofRs 25 million
2. Suppose a country has a capital accountI
and a current account deficit of Rs 20 million.
(a) Calculatethe Balance of Pavment and state itSorSituatlo:
sellthe home
(b) If the Central Bank intervenes, does it buy
2+2
currency?
3. Let for an individual, Y, = 200. Y'=400 and r=0. l where Y, Y,
1

andr stand for income in period one. income in period two and interes
rate respectivcly. Derive the consumption function as suggested by
Permanent Income hypothesis.
4. Suppose the monctary basc is Rs 30,000, the rcscrve-dcposit
ratior is 0.Iand the currency-deposit ratio C is 0.4. Find the mone
multiplier and the total money supply in the cconomy.
5. Suppose theconsumption function in an cconomy is given by
C= 100 +0.6Y. while the investment is given by I =200.
(a) What is the cquilibrium level of income in this ccononv?
(b)What is the level of saving in this economy when income is
Rs2.000. 2+2
6. Suppose marginal propensity to consume is 0.9 and tax rateB
0.3. Find out the multiplier. If investment decreases by Rs 10 billion
by how much will GDP decline? 2+)
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resource allocation in LDCs.
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of LDCS. 5
6. (a) "Workers base their migration decision on their cxpected
income" -Explain this proposition with the help of asuitable model.
5
(b) Suggest some policy neasures to restrict rural-urban
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FOURTH PAPER-2013
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Section-B
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2 Criticallyexplain tlhe Agricultural Price Policy ofthe governmea
of lndia.
3. Explain the stnictural constraints to the implcmentation d
development planning in India.
How br
4. State the basic objcctives of land rcforms in India.
these objcctives have been fulfilled? 34]
5. Do vouthink that the largc-scale industries have been over.
cmphasizcd at the cost of morc potential small-scale industrics in
India during the plan period? Explain.
6. Whatwere the objcctives of Industrial Licensing Policy of India!
How far this policy was successful in initiating the proccss of
industrialisation? 4+6