IEcoS General Economics Paper 2 Papers 2005
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IEcoS General Economics Paper 2 2005
Section-I
- Answer the following questions
- Distinguish between Physical Quality of Life Index (PQLI) and Human Development Index (HDI) .
- State the conditions for ‘Take-off.’
- Define immiserising growth.
- What are exchange controls?
- What are ‘Singapore Issues’ under W T O Negotiations?
- Can money multiplier be manipulated?
- Define Chi-square distribution. 5 × 7 = 35
Section-II
Candidates should answer any FIVE parts from the following
- Answer the following questions
- Explain Kuznets ′ inverted u hypothesis and comment on the relationship between inequality and growth.
- Examine the need for a Critical Minimum Effort to initiate the process of growth in a low income economy.
- How would you account for the secular deterioration in the terms of trade of developing economies?
- Explain how according to the classical theory correction in the balance of payments disequilibrium is automatic.
- Explain how globalization is expected to contribute to global convergence.
- Distinguish between capital account convertibility and current account convertibility.
- Define Pearson՚s coefficient of correlation. Interpret the result when r = 1,1 or 0 (5 × 15 = 75)
Section-III
Answer any THREE of the following
- Explain why balanced and unbalanced growth approaches are regarded as two policies to address a common goal. 30
- A country՚s exports use a country՚s abundant factor intensively (Heckscher Ohlim) . Elucidate. 30
- Discuss the relative merits of fixed and flexible exchange rates to achieve internal and external balance. 30
- Examine Milton Friedman՚s restatement of the quantity theory of money. 30
- Define time-series analysis. Discuss the use of time-series and cross-sectional studies in economic analysis. 30