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Important Questions for "Microeconomic":

[1]

  1. Which issue is concerned with macroeconomics?
  2. Which is the indicator of economic growth?
  3. Who is associated with cash balance approach of money?

[2]

  1. Explain the essential differences between macroeconomic and microeconomic approaches and their significance for economic theory.
  2. What do you understand by issues of dumping?
  3. Explain the differences between perfect competition, monopolistic competition, and monopoly. Show how price is determined under monopolistic competition with a diagram.

[3]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. Make a comparison between risk-bearing and uncertainty-bearing theories of profit.
  3. What are the main objectives of monetary policy? What are the limitations of monetary policy in an underdeveloped economy?

[4]

  1. What do you understand by microeconomics?
  2. Explain how the demand curve represents the law of demand.
  3. Explain the differences between gross domestic product at factor cost and net domestic product at factor cost.

[5]

  1. Which formula defines disposable income?
  2. Define marginal propensity to consume.
  3. Illustrate demand elasticity measurement using the total expenditure method.

[6]

  1. What do you understand by ridge lines?
  2. Explain the law of variable proportions with the help of a suitable diagram.
  3. Explain the short-term and long-term equilibrium of a firm under monopolistic competition.

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