BECC-103 INTRODUCTORY MACROECONOMICS
Solved Assignment 2020-2021
BECC-103 : INTRODUCTORY MACROECONOMICS
Course Code: BECC-103
Assignment Code: ASST/BECC 103/ 2020-21
Total Marks: 100
|Title Name||BECC-103 Economic HONOURS Solved Assignment 2020-2021|
|Service Type||Solved Assignment (Soft copy/PDF)|
|Semester||2020-2021 Course: BA(Economic HONOURS)|
|Short Name||BECC-103 (ENGLISH)|
|Assignment Code||ASST/BECC 103/ 2020-21|
|Product||Assignment of BAG(Economic HONOURS) 2020-2021 (IGNOU)|
|Submission Date||Those who are enrolled in July 2020, they have to submit the assignment latest by April
30, 2021; and those enrolled in January 2021, they have to submit the assignment latest by
October 31, 2021.
Answer the following Descriptive Category Questions in about 500 words each. Each question
carries 20 marks. Word limit does not apply in the case of numerical questions. 2 × 20 = 40
1. (a) Describe the salient features of classical economics.
(b) What are its implications of classical assumptions on employment and output in an economy?
2. (a) Explain how the IS curve is derived. What are the factors that influence the position and
slope of the IS curve?
(b) Briefly explain the implications of the LM curve. What does a point outside the LM
curve mean? What do the position and slope of the LM curve imply?
Answer the following Middle Category Questions in about 250 words each. Each question
carries 10 marks. Word limit does not apply in the case of numerical questions. 3 × 10 = 30
3. Briefly describe the functions of money. Explain how money is measured.
4. Give an outline of the income method of measurement of Gross Domestic Product
(GDP). Point out the activities that are not included in the GDP.
5. Explain the impact of inflation on various segments of society.
Answer the following Short Category Questions in about 100 words each. Each question carries
6 marks. 5 × 6 = 30
6. Explain the concept of money multiplier.
7. Distinguish between marginal propensity to consume (mpc) and average propensity to
consume (apc). Explain both the concepts through a diagram. Why marginal propensity to
consume (mpc) remains between 0 and 1?
8. Explain the concept of balanced budget multiplier.
9. For a three sector economy the following is given:
𝐶 = 30 + 0.75𝑌, I = 30, G = 40
where C = consumption, I = investment, and G = government expenditure.
Find out the equilibrium output level.
10. Explain the circular flow of income and expenditure in a three sector economy.
BECC-103, BECC 103, BECC103