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Economics-2014: Answer Writing Challenge – 23


29 September 2014

Q1) By restricting social benefits to BPL households, the poverty line ( in India) will be fully converted from a statistical benchmark to a real life social division” Dreze. Discuss ? (200 Words)

Q2) What are the different measures of money supply? Explain the concept of money multiplier and state the factors that determine its volume? (200 Words)
Q3) “If expectations (regarding price level ) were always fulfilled short run aggregate supply curve would always be vertical” Critically examine this statement of New Classical Economics. What would be the shape of the curve if expectations were not fulfilled? What other assumption is made by New Classical economists in this context and what is its implications? (300 Words)