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MEC-006/106: Public Economics

 

Section-A

Answer the following questions in about 700 words each. Each question carries 20 marks. 2X20=40

1. (i) “The overall welfare of the society essentially depends on the individual utility level”- In the light of this statement, explain the various approaches of social welfare functions. How does public intervention can meet the problems associated with negative externalities?

(ii) Explain with example how collective decision making is distinct from individual decisions making? On what basis an individual ranks various social state?

2. What do you mean by the term “market failure”? Give an account of the factors causing market failure? What kind of state intervention is required to address the problems associated with Monopoly Power?

 

Section B

Answer the following questions in about 400 words each. Each question carries 12marks. 5X12=60

3. State the features of local public goods and services. Do you think that ‘citizen- consumer choice’ is ignored by the local governments? Give illustration.

4. Distinguish between public expenditure and private expenditure. To what extent public expenditure should be incurred? Explain the theory of maximum social advantages advanced by H. Dalton in this regard.

5. Write short note on following:

(i) Global peace index

(ii) Nash equilibrium

(iii) Dual federalism

(iv) Sink Costs

6. What is fiscal deficit? Explain the various ways through which fiscal deficit is financed.

7. What do you understand by the term ‘Macro Economic instabilities’? Which policy instruments would you like to suggest for stablishing an economy suffering from macroeconomics shocks?

MEC-106/006 SOLVED ASSIGNMENT 2024-2025

₹50.00Price
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