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(C) Choose the correct answer in each from the following four alternatives
1. „Principles of Economics‟ is the celebrated book of:
1. Dr. Alfred Marshall
2. J.M. Keynes
3. Lionel Robbins
4. Adam Smith)
Q. 2 (A) Define and explain the following concept. (Attempt any 4) 8 marks
1. Define Microeconomics
2. Explain, with example, the term Utility
3. Define Price Elasticity of Demand
4. Define Cash Reserve Ratio
5. Explain the concept of Gross National Product. (GNP)
6. Define Consumption Function
7. State the definition of Central Bank.
8. Explain Credit Cards
(B) Rewrite the following statements as True of False. Give Reasons. (Any 4) 8 marks
Q. 4. (A) Answer the following questions in one or two paras (any 2) 8 marks
1. Features of Macroeconomics
2. Exception to the Law of supply
3. Types of Monopoly
4. Kinds of demand
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two) 16 marks