Question 1.
“The distinction between micro and macro economics is getting narrower and narrower day by day. Recent developments in economic theory suggest that there are micro foundations of macro-economics just as there are macro foundations of micro-economics.” Elucidate with adequate and appropriate references to economic analyses.
Question 2.
What is fiscal deficit? Comment on India’s current fiscal status. Do you think the current policy measures are adequate? If not, suggest policies.
