BECC-133 · December 2023 · English
IGNOU BECC-133 December 2023 Previous Year Question Paper
PRINCIPLES OF MACRO ECONOMICS-I
Structured previous year question paper for BECC-133, December 2023 session.
Max marks: 100 · Questions: 12 · Sections: 3
Verified: 5 Aug 2026
BACHELOR OF ARTS (GENERAL)
(BAG)
Term-End Examination
December, 2023
BECC-133 : PRINCIPLES OF MACRO
ECONOMICS–I
Time : 3 Hours Maximum Marks : 100
Note : Attempt questions from all the Sections as
per instructions given in each Section.
Section—A
Note : Attempt any two questions from this Section
in about 500 words each. 2×20=40
Q1.Explain the salient features of classical theory of output and employment. How is it different from the Keynesian theory ? [ 2 ]
Q2.What are the objectives of Monetary Policy ?
Q3.Describe the instruments that a Central Bank can use to control inflation.
Q4.How is equilibrium level of income determined in a three -sector model ? Explain with the help of a diagram.
Q5.Explain circular flow of income in an open economy with the help of a diagram. Also describe the relationship between leakages and injections.
Section—B
Note : Attempt any four questions from this Section
in about 250 words each. 4×12=48
Q6.Outline the steps involved in the estimation of National Income by Income method. How is the Income method different from the Expenditure method in measuring National Income ?
Q7.Elucidate the Keynesian theory of demand for money. [ 3 ]
Q8.Calculate GDP from the following data : Items Value (in ` crore) Government Consumption Expenditure 15,000 Personal Consumption Expenditure 50,000 Gross Domestic Fixed Investment 5,000 Increase in inventories 1,000 Export of goods and services 6,000 Imports of goods and services 7,000 Depreciation 5,000
Q9.Explain why is Economic Growth important for a country. Distinguish between Economic Growth and Economic Development.
Q10.Explain why is the Aggregate Supply Curve vertical in the classical approach.
Q11.Explain the concept of Investment multiplier and what will be the value of multiplier if MPC = 0.5 ? [ 4 ]
Section—C
Q12.Write short notes on any two of the following : 2×6=12
(a) Production Possibility Curve (PPC)
(b) Balanced Budget Multiplier
(c) Balance of Payment and Balance of Trade
(d) Measures of Money Supply [ 5 ] BECC–133 2023 -133 2×20=40 [ 6 ] BECC–133 4×12=48 [ 7 ] BECC–133 GDP