MAJOR-3 ECONOMICS- ECONOMIC THEORY AND PUBLIC FINANCE.

MOST IMPORTANT QUESTIONS FOR EXAMINATION: 16 MARKS.

1. What is National Income? explain the methods of estimation of national income.
2. Explain briefly the concepts of National Income.
3. ‘Supply creates its own demand’ Summarize.
4. Briefly explain the Keynesian theory of Employment.
5. What is Trade Cycle? Explain the Phases of Business cycle.
6. Explain the causes and measures of business cycle.
7. What is Economic Development? Explain its determinants?
8. What is Vicious circle of poverty. explain the determinants of B.P.L
9. Critically explain the Big push theory.
10. Explain briefly the sources of Public Revenue.
11. What is public expenditure? Explain the items of public expenditure.
12. What is public debt? Explain the purpose and types of public debt.
13. What is Budget? Explain the components of budget.
14. What is Budget Deficits? explain the types of deficits.
15. What is Deficit Financing? Explain its importance and limitations?

QUESTIONS FOR 8 AND 10 MARKS.

1. Importance of estimation of national income.
2. Difficulties in the calculation of national income.
3. Control of business Cycle.
4. Characteristics of good tax system.
5. Redemption of public debt.
6. Economic growth v/s economic development
7. Balance and unbalance Budget
8. Say’s law of markets.
9. Direct and Indirect tax
10. Theory of Critical minimum effort thesis.