204 No, of Printed Pages : 4 LO | MASTER OF ARTS (ECONOMICS) \ ( MEC) Term-End Examination _ June, 2022, ose6eo0 : MEC-106 : PUBLIC. ECONomics Time 3 hours Maximum Marks : 100 Questions from each secti Note: Attempt jon as per instructions given, SECTION A Attempt any two questions from this section in about 700 words each, 2x 20=40 A, Describe the different contexts in which the welfare criteria are applied in public economics. Discuss the Lindhal’s Equilibrium model and Samuelson’s Pure theory of public expenditure, in the context of public goods. > Explain the various concepts under direct and indirect taxes, What is the basic principle Ping followed in determining direct taxes ? State the four main instruments of fiscal policy. In what respects does an economy experience the impact of fiscal policy ? MEC-106 _ nesSECTION B estions from this section in about \ ny five 5x12=60 i » 2 What oes Rawls define ‘primary goods’, ? ocial and economic & How a does he propose inequities’ in societies ? to reduce ‘Ss Explain how externalities cause inefficiency when markets are incomplete. 7. Distinguish between ‘collective decision-making’ and ‘individual decision-making’. _p/ Define a public good. Why is it difficult to decide on public spending for a public good ? LF Distinguish between property income and ‘business income. : 10. Explain Wagner’s law. What are the reasons attributed by Wagner for the growth of public expenditure over time ? How is India a Federal State ? State the status of local governments in India. 12. State the reasons why the Bretton Woods system collapsed. MEC-106 7way, (19a) (wr...) ata WaT ET, 2022 wa g.Ah.-106 : vite atelerres sae afta He : 100 ae: Rome Adega veda oer & wedt & ae GE | ae se an 3 & feel at eat & see TTT 700 Weal (JH) F ane | 2x20=40 1. faite desi an ale Afra fad cis shores F SrA AAS ATL EI = | aeshe eget & del a fers % agen visa ak agen % arate om % yg ftgia 1 wat its | yea ak aaa ai & ainta ia aaereil oe caren aifsre | seme wit % Fae Hea aR fagia 1 orem fare siren 2 2 4, Toenta Aft & on sya ani a seta AC | We adore fee see Usaidta A os were cer ayaa aed 3 2 MEC-106 3 » bd PTO atSTN ty Bd ML bibeeld Ua er ef, se earn re fim | 100 WEE Crehngy Bea oerfiyeg acyl uy 4, blaaby wet art Cn Pey A feet fiom 4 am AN caifthen Banal a THN He A erm wean speeqrey ce aren fara, fei fim qe arent agporeren ay BROT BHA H ter arse cal stay # 7. “ama fie Ruler’ she ‘afters Probe? H sae mae =ifsra, | 8. ards ay ait utenti Afr | ards aq % few acer ore ax Pola aren aA ait a 2 9. ofa ory ott carerenfirs oa H sit ere Afra | 10, ar & fem A omen Ae | ara & ma aah ori Al afe & fee den 4 fir ervil at irten Ser ? 11. ‘area em ei cise Ae BP eat art Ai feafa aengy, | 12, ser gee wore & ves HR Tere |