Economics Most Important Questions Part 1 For 2020 Exam

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  1. A number of production lines were reserved for the small scale sector in the pre-liberalization period. Did such reservation achieve its objectives? Explain in detail (300 words)

  2. “Industrial development and environmental degradation are highly correlated”. If it is true what should be in your opinion the policy options for industrialization process vis–a-vis pollution control? (250 words)

  3. Would a flexible exchange rate regime serve India better than a fixed exchange rate regime in the current international scenario? (150 words)

  4. Elucidate how does Kalecki’s theory of distribution share the value of output between labour and capital? (200 words)

  5. How is warranted growth different from natural rate of growth? Explain why Harrod’s growth model is called “knife edge”? (200 Words)

  6. What are the negative externalities of high energy coefficient? (200 words)

  7. How does portfolio balance approach differ from monetary approach in determining the exchange rate? (200 Words)

  8. If all assumptions hold true how does the trade between nations tend to bring about equalization of factor prices (250 Words)

  9. “Validity of Marshall’s equi marginal utility depends on the assumption of unitary elasticity of the marginal utility curves of the commodities under the budget.” Clearly explain this assertion (150 words)

  10. “Pareto optimality is a necessary but not sufficient condition for welfare maximization” Develop this idea highlighting the role of “social welfare contours” and “utility possibility contours” in welfare maximizing state? (200 words)

  11. Examine the challenges to export diversification and increase in export competitiveness of India? (250 words)

  12. What is “Scitovsky’s Paradox” ? How far has Scitovsky been successful in removing contradictions in Kaldor-Hicks compensation criteria of welfare? (200 words)

  13. Bring out the differences in the definition of deficit financing given by different authorities in India and examine the role of deficit financing as an instrument of monetary control. (250 Words)

  14. “A dominant firm acts as a price leader and other firms adjust their outputs accordingly “Comment (200 Words)

  15. Discuss the process of forced commercialization of agriculture under colonial rule (200 Words)

  16. ” In spite of its limitations, Kalecki’s theory of distribution is real in that it states that the monopoly and not the perfect competition is found in the real world and that monopoly power affects distribution ” In the light of the above statement, elaborate Kalecki’s theory of distribution and discuss its utility (300 Words)

  17. Q3) The adjustment to a tax imposition not only affects the distribution of tax burden but also bears upon the efficiency of resources use in private sector. Substantiate the above statement highlighting the role of taxation policy in improving allocative efficiency in an economy. (200 Words)

  18. “Welfare economics is a branch of economic theory which provides a theoretical framework for optimum use of resources” In the light of the above statement examine the areas of welfare economics ? (300 words)

  19. Elucidate the concept of social welfare function. Critically examine this approach. (200 Words)

  20. By restricting social benefits to BPL households, the poverty line ( in India) will be fully converted from a statistical benchmark to a real life social division” Dreze. Discuss ? (200 Words)

  21. “If expectations (regarding price level ) were always fulfilled short run aggregate supply curve would always be vertical” Critically examine this statement of New Classical Economics. What would be the shape of the curve if expectations were not fulfilled? What other assumption is made by New Classical economists in this context and what is its implications? (300 Words)

  22. “New Classical Macroeconomics not only rejects the demand management policies of Keynes, but also the proposition of mainstream monetarist such as Friedman” Do you agree ? (200 Words)

  23. Outline Keynesian theory of income, output and employment. Do you subscribe to the view that the principle of effective demand is the logical starting point of this theory? Elaborate your answer ? (250 Words)

  24. Is Gandhi’s economic thought reconcilable with the economic thinking underlying India’s economic development? (200 Words)

  25. What are the salient differences between Fisher’s equation and Cambridge Equation of money ? Which of these do you prefer and why? (300 Words)

  26. Is the economic planning relevant in the context of globalized economy of India?Elucidate (200 Words)

  27. Marginal Productivity theory of income distribution is analytically sound but in real life equally inapplicable. Discuss this statement (200 Words)

  28. In the contemporary world of perfect capital mobility and fixed exchange rates why is the monetary policy ineffective to maintain equilibrium ? (20 Marks)

  29. Which would you prefer “growth led exports” or “export led growth” and why? Give reasons (20 Marks)

  30. Discuss the possibilities of capital formation through use of surplus manpower in developing countries and mention problems involved in it . (60 Marks)

  31. Explain briefly the problem of “knife edge equilibrium” that arises in Harrod Domar Model and show how Solow tries to eliminate it (60 Marks)

  32. Do you agree with the “limits to growth” thesis ? Is it relevant in the context of developing countries ? In this context discuss the concept of sustainable development? (60 Marks)

  33. Carefully analyze the behavioral assumption behind the Harrod proposition that the warranted rate of growth is unstable ? (60 Marks)

  34. Discuss the nature and incidence of the problem of rural poverty in India. What suggestion do you offer to solve it? (200 Words)

  35. Examine the role of land reforms on agriculture development in India. What policy measures can quicken the pace in land reforms (60 Marks)

  36. Make a critical appraisal of Common Minimum Program (20 Marks)

  37. Write a detailed note on structure and determinant of the rural poverty in India (20 Marks)

  38. Account for the static pattern of occupational distribution of the working population in India. Give suggestion for an alternative model of development which links growth with employment (60 Marks)

  39. Discuss the factors determining the supply of in India. What are the money stock measures of the Reserve Bank of India? (60 Marks)

  40. Examine the impact of WTO on Indian SSI units. Do you think that withdrawal of reservations and other measures would threaten their survival? ( 60 Marks)

  41. What is social banking? To what extent has it helped in promoting employment and alleviating poverty in India? (60 Marks)

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