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Economics-2014: Answer Writing Challenge – 24


30 September 2014

Q1) Is the speculative demand for money responsible for the presence of involuntary unemployment in Keynesian system?Give reasons (200 Words)

Q2) In Keynesian theory ” rate of interest is what it is because it is expected to become other than it is. If it is not expected to become other than it is, there is nothing to tell us why it is what it is” Critically evaluate this comment and explain the role of rate of interest in determination of equilibrium income. (300 Words)
Q3) Discuss the contribution of D.R. Gadgil to Indian Economic Planning and Policy. Evaluate the key elements of the “Gadgil Formula” used by the planning commission. (200 Words)