UPSC Mains ECONOMICS-PAPER-I 2017

26 Questions • 360 Marks • With Detailed Model Answers

1
10 Marks150 Wordsmedium
Derive the expansion path for a firm operating with the Cobb-Douglas Production Function.
EconomicsMicroeconomics
2
10 Marks150 Wordsmedium
Under monopolistic competition a firm enjoys monopoly power without enjoying monopoly profit. - Explain.
EconomicsMicroeconomics
3
10 Marks150 Wordshard
Show that in the complete Keynesian model only fiscal policy is effective during a period of depression.
EconomicsMacroeconomics
4
10 Marks150 Wordshard
Explain the difference between the assumptions of New Classical and the New Keynesian approaches in managing individuals and markets.
EconomicsMacroeconomics
5
10 Marks150 Wordsmedium
Show that full employment is the logical conclusion of the Classical macro model.
EconomicsMacroeconomics
6
15 Marksmedium
Pareto optimality conditions are necessary but not sufficient conditions for social welfare maximisation. Comment.
EconomicsWelfare Economics
7
15 Marksmedium
Discuss briefly the circumstances where fiscal expansion leads to full crowding out.
EconomicsMacroeconomics
8
15 Marksmedium
Explain how the equilibrium employment and real wage would change in a typically classical model if, in the event of increase in supply of labour, money wage becomes rigid.
EconomicsMacroeconomics
9
15 Marksmedium
How Chamberlin uses planned sales curve to explain equilibrium of a firm and group when the entry of firms is permitted?
EconomicsMicroeconomics
10
15 Marksmedium
What is financial repression? Mention some of its consequences.
EconomicsFinance
11
15 Marksmedium
Transaction demand for money is not always interest rate inelastic. Discuss.
EconomicsMacroeconomics
12
20 Markshard
Explain the Keynesian and classical extreme monetary assumptions for showing their effects on the slope of the LM curve.
EconomicsMacroeconomics
13
10 Marks150 Wordsmedium
Distinguish between effective and differential tax incidence.
EconomicsPublic Finance
14
10 Marks150 Wordseasy
Write a short note on gravity model of trade.
EconomicsInternational Trade
15
10 Marks150 Wordshard
Determine optimum tariff of a country with the help of offer curve.
EconomicsInternational Trade
16
10 Marks150 Wordsmedium
What is 'solow-residual'? What are its implications?
EconomicsEconomic Growth
17
10 Marks150 Wordsmedium
What are the implications of trade in higher education under GATS for India?
EconomicsInternational TradeEducation
18
15 Marksmedium
The consumption and production effects of a tariff for a commodity depend on the elasticities of demand and supply respectively. Discuss.
EconomicsInternational Trade
19
15 Markshard
Monetary Contraction is a better option than devaluation to improve balance of payments position of a developing economy under fixed exchange rate system. Discuss.
EconomicsInternational Economics
20
20 Marksmedium
Do you agree with the view that the honeymoon with free trade under W.T.O. is at an end? Give reasons for your answer.
EconomicsInternational Trade
21
15 Marksmedium
Petroleum is sold in the world market and priced in US dollars. RISCO in India must import petroleum to use it in its manufacturing. How are its profit affected when Indian rupee depreciates against the US dollar?
EconomicsFinanceInternational Trade
22
15 Markshard
State and discuss Arrow Impossibility theorem. How does Sen modify it for social welfare maximisation?
EconomicsWelfare Economics
23
20 Marksmedium
Show that Cobb-Douglas Production Function exhibits both Hicks and Harrod neutral technical progress.
EconomicsMicroeconomics
24
15 Marksmedium
In view of economic uncertainties, Hirschman approach to economic development makes more sense. Discuss.
EconomicsDevelopment Economics
25
15 Marksmedium
The trade-off between environment and development remains unresolved. Comment in view of the United States exiting from Paris Climate Agreement.
EconomicsEnvironment
26
20 Marksmedium
Discuss the problem of intergenerational inequity arising out of internal public debt.
EconomicsPublic Finance