MEC 004 ECONOMICS OF GROWTH AND DEVELOPMENT December 2019 Question Paper

 

MEC 004 ECONOMICS OF GROWTH AND DEVELOPMENT

December 2019 Question Paper

Time : 3 Hours Maximum Marks : 100

Note : Answer questions from each Section as directed.

Section—A

Note : Answer any two questions from this Section in about 500 words each

1. What is meant by a plan model ? What are its various types ? Bring out the factors that influence the choice of a plan model in an economy.

2. Bring out the salient features of Solow model. Explain through a diagram how steady state growth rate is achieved in an economy.

3. What are the various stages of demographic transition ? Explain, how population policy should take into account the demographic transition features.

 4. Explain in brief the Mandan theory of economic development.

Section—B

Note : Answer any five questions from this Section in about 250 words each.

5. Explain, how inequality in an economy can be measured through Lorentz curve and Gini coefficient.

6. Explain the theory of critical minimum effort. What are its limitations ?

7. Define technical change. What are its types ?

8. How is poverty defined ? Explain, how poverty can be measured.

9. Explain, why market failure takes place.

10. Bring out the features of inter-linked markets and their implications.

11. Write short notes on the following :

(a) Measurement of economic welfare

(b) Role of social norms in economic development

12. What is meant by effective rate of protection ? Should developing countries pursue a protectionist policy ?

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