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Eco 111: Introduction To Macroeconomics Question Paper

Eco 111: Introduction To Macroeconomics

Course:Bachelor Of Business Management

Institution: Rongo University question papers

Exam Year:2014

QUESTION ONE

a) One of the uses of national income statistics is to indicate the standard of living of the people. Briefly discuss the limitation to this use. (10mks)

b) Between Gross Domestic Gross Domestic Product and Gross National Product. Which one is greater than the other as regards to :-

i) Developing countries. (4mks)

ii) Developed countries. (4mks)

c) Discuss the consequences of inflation on economic development. (7mks)

QUESTION TWO

a) Explain the various phases of business cycles and briefly describe its features. (9mks)

b)Explain public finance and evaluate its importance to an economy. (6mks)

QUESTION THREE

a) Discuss the monetary and fiscal policy tools available for the control of inflation in an economy. (8mks)

b) Describe the role of government in the growth of an economy. (7mks)

Question FOUR

a) Almost two thirds of the population in developing countries depends on agriculture. Briefly discuss the challenges facing agricultural sector in developing countries today. (8mks)

b) Explain the weakness of the price mechanism in allocating resources in a free market
economy. (7mks)

QUESTION FIVE

a) Explain the types of unemployment which exists in an economy and discuss its causes. (8mks)

b)Briefly discuss what policies a country faced with the problem of unfavorable balance of payment would formulate to improve its status. (7mks)

Eco 111: Introduction To Macroeconomics Question Paper

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