Economics Revision Questions Question Paper

Economics Revision Questions

Course:Cpa Part I

Institution: Strathmore Business School question papers

Exam Year:2004

QUESTION THIRTY-FOUR
a) Clearly explain the meaning of deficit financing of the national budget. (4 marks)
b) To what extent can an economy be supported by deficit – financing? (10 marks)
c) Explain what fiscal policy entails. (6 marks)
(Total: 20 marks)

QUESTION THIRTY-FIVE
a) Define inflation. (2 marks)
b) What are the major causes of inflation? (10 marks)
c) Explain the economic effects of a high rate of inflation. (8 marks)
(Total: 20 marks)

3.10 INTERNATIONAL TRADE AND FINANCE

QUESTION THIRTY-SIX
a) What is meant by the term international trade? (4 marks)
b) In the context of international trade, explain the concept of comparative advantage with specialization. (10 marks)
c) Define and briefly explain Balance of Payments (BOP). (6 marks)
(Total: 20 marks)

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