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Important Questions for "Macroeconomics":

[1]

  1. Differentiate between Gross National Product and Net National Product.
  2. Distinguish between average and marginal propensity to consume.
  3. What do you understand by a trade cycle?

[2]

  1. Which issue is concerned with macroeconomics?
  2. Wealth is an example of:
  3. In the modern theory of interest IS refers:

[3]

  1. Who is considered the father of Macroeconomics?
  2. Define the concept of marginal propensity to consume.
  3. Who introduced the concept of 'money illusion'?

[4]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. Write a brief note on full employment.
  3. What is monopolistic competition? How are price and output determined under it?

[5]

  1. Explain food availability decline theory or describe macroeconomics and its scope.
  2. Define full employment, voluntary unemployment, and involuntary unemployment.
  3. What is the production possibility curve? Why is it concave to the origin?

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