JNU ECOM 2011 QUES 11-22 {Must see}

Posted by Arushi :)) on Mar 08, 2014; 7:01am
URL: http://discussion-forum.276.s1.nabble.com/JNU-ECOM-2011-QUES-11-22-Must-see-tp7585124.html

QUES11

Answer-

QUES 12

Answer-b
QUES 13,14

Answer
13-a
14-d
QUES 15 What is the rate of growth of real GDP (base year I) in year III?
a. 10%
b. 13.67 %
c. 18.18 %
d. 20 %
Answer-d
Questions 16-22 are to be answered on the basis of following information:
Let Y: aggregate real output per year
     P: the price level
     C: money value of aggregate consumption expenditure per year
     I: money value of aggregate investment expenditure per year
     L: aggregate employment (in labour hours per year)
     L*: total labour supply (in labour hours per year)
     w: hourly money wage rate
Let W denote the money value of aggregate wage income per year, R the money value of aggregate non-wage income per year.
Consider an economy in which labour is homogenous, the aggregate producitivity of labour (Y/L) is a constant a and the price level (when output is below its full employment level) is a factor m times the wage cost per unit of aggregate output . The price at full employment is always greater than or equal to that at below full employment.
In equilibrium , PY= C+I
QUES 16
If I = 4000, C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000. What is the full employment level of output in the economy?
a. 125
b. 625
c. 24000
d. None of the above
Answer-d
QUES 17
If C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000, and output is below its full employment level, what is the increase in nominal income per unit increase in investment expenditure in the economy?
a) 2
b) 4
c) 8
d) 16
Answer-b
QUES 18
If I = 4000, C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000. what is the price level in the economy ?
a) 0.83 (approx)
b) 0.93 (approx)
c) 1.07 (approx)
d) 1.16 (approx)
Answer-a
QUES 19
If I = 4000, C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000. what is the fraction of total labour supply which remains unemployed in the economy?
a) 5%
b) 10%
c) 12.5 %
d) 25%
Answer-d
QUES 20
If C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000, but I increases from 4000 to 5000, what is the resulting change in the price level in the economy?
a) 0%
b) 5% increase
c) 10% increase
d) 20% increase
Answer-a
QUES 21
If C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000, but I increases from 4000 to 7000, what is the resulting change in the price level in the economy?
a) 0%
b) 5% increase
c) 10% increase
d) 20% increase
Answer-c
QUES 22
If C = 1000+0.8W+0.6R, w= 10, m= 4/3, a=16, L*=2000, but I increases from 4000 to 7000, what is the change in the share of non-wage income in the total income of the economy?
a) No change
b) increases by 1/8
c) increases by 1/6
d) increases by 1/5
Answer-b