Managerial Economics 8th Edition D N DWIVEDI - Solutions

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Explain nature of the problems studied in Managerial Economics. What is the importance of the study of such problems in Business Management?
Explain how Managerial Economics is related to Economics, Statistics, Mathematics and Accounting.
Define Managerial Economics and point out its chief characteristics. How is Macro-Economics useful to Managerial Economics?
Managerial Economics is an integration of economic theory with business practice for the purpose offacilitating decision-making and forward planning by management. Explain.
(a) Define "Law of Demand", what are its exceptions.(b) Define and Explain the law of Diminishing Marginal utility with example.
Explain the various factors that influence the demand for a computer.
What is meant by Demand? Everyone desires for an ambassador car. Does this mean that the demand for ambassador car is large?
What is Demand Analysis? Explain the factors influencing the demand for a project.
Explain nature and scope of Managerial Economics.
Write a note on the attitude of Indian businessmen towards their social responsibility and their performance in that regard.
In the opinion of some economists, the only social responsibility of business corporations is maximization of profit. Do you agree with their view? Give arguments to support your answer.
Is the concept of social responsibility of business corporations an ethical or legal issue? Elaborate on your answer.
What social responsibility do business corporations owe to different sections of the society? How do you think business corporations can bring a compromise between the conflicting objectives of profit maximization and their social responsibilities towards the different sections of the society?
What are the social responsibilities of business corporations? To what extent do you think businessmen honour and fulfill their social responsibility in India?
Do businessmen have any social responsibilities to fulfill? If your answer is ‘yes’, how will you justify your answer?
The tremendous growth of trade unions and their activities in India have done more harm than good to the labour community and to the society. Comment.
What are the major causes of industrial disputes? What is the mechanism of settlement of industrial disputes in India?
What are the major findings of the Monopoly Inquiry Commission and what are its major recommendations?
How does the growth of monopolies and restrictive trade practices affect the industrial growth of a country and social interest? Why can market system itself not eliminate monopolies and restrictive trade practices?
What are the factors that make economic legislations inevitable? How do you think economic legislations serve the society?
What is the meaning and purpose of the joint sector? How do you think the promotion of joint sector would achieve a greater industrial growth and social justice?
How do you think the New Industrial Policy (1991) is conducive to industrial growth of India?What are its shortcomings?
How do you think the licensing policy of India had affected growth of industries in India?
What are the main features of the New Industrial Policy? How is it different from the 1956 Industrial Policy?
What is the significance of industrial policy in a mixed economy? What purpose does it serve?
How do the indirect taxes affect private business? Explain with examples from India.
Indirect taxes are more of a deterrent to private saving and investment than the direct taxes.Elucidate.
How does corporate income taxation affect the incentive and capacity of the large corporations to save and invest?
Describe the effects of taxation on (a) work-efforts of the people, ( b)desire and capacity to save and invest.
How does taxation affect private business activities? Is taxation always a deterrent to the growth of private business?
What are the main objectives of fiscal policy? Briefly describe the role of fiscal policy in the economic growth of an underdeveloped economy.FISCAL POLICY 795
What is meant by fiscal policy? What were the main objectives of India’s fiscal policy before 1990 reforms?
Inflation rate in India touched 12 per cent in July 2008. What was the dilemma faced by the RBI and the government in adopting strong measures for controlling inflation.Explain in detail.
Price stabilization has been the dominant objective of India’s monetary policy. Has the RBI succeeded in stabilizing the price level at a desirable level.
What monetary measures have been used by the RBI to control in the country? Which of the measures proved to be more effective.
What are the objectives of India’s monetary policy? Have the policy measures used by the RBI been effective in achieving the policy targets?
What are the limitations of the monetary policy in developed and less developed economies? Why is monetary policy less effective in the developing economies?
What is meant by ‘time lag’? How does it affect the effectiveness of monetary policy?
What are the factors that determine the effectiveness of monetary policy?How does empirical evidence corroborate with theoretical propositions?
Explain the transmission mechanism of monetary policy. How does a change in money supply changes the levels of income and prices? What is portfolio adjustment? How does Keynesian approach in this regard differ from the monetarist approach?
What is open market operation? How does it work to affect the money supply? Why is this measure considered to be more effective than other measures of monetary control?
Distinguish between total credit control and selective credit control measures of monetary control.Under what conditions are the qualitative controls preferred to quantitative controls?
Describe the instruments of monetary policy. How do they work and what are their limitations?
What is meant by monetary policy? How does it differ from fiscal policy?
Do private enterprises have any social responsibility to fulfil? How can they bring a reconciliation between their profit maximization objective and their social responsibility?
Explain how monetary and fiscal policies can help and hamper private business.
How will you argue for minimizing the government’s interference in the free market mechanism?
Do the government’s economic activities necessarily restrict the growth of private business activities?
What is ‘mixed economy’? How does the government’s role in a mixed economy differ from its role in a free enterprise economy?
Why is government interference indispensable in a free enterprise system?Does government interference ensure the fulfillment of social objectives?
What are the current lines of operation of the IMF? Has the IMF been successful in resolving the problems of the international monetary system?
Why was SDR created and how SDRs allocated between the member countries? How are SDRs transacted between the nations? How has the creation of SDRs contributed to the international monetary system?
What is meant by gold exchange standard, flexible exchange rate system, and managed floating exchange rate? How was the exchange rate determined under these exchange rate systems?
What developments had taken place after the collapse of the Bretton Woods System? What were the agreements made under the Smithsonian Agreement?
What were the factors that led to the collapse of the Bretton Woods System? What reforms were adopted by the leading industrial nations to revive the Bretton Woods system? Why did the revived system not work smoothly?
What were the purpose and conditions of borrowing from the IMF under General Agreements to Borrow,
What kinds of financial assistance are provided by the IMF to membercountries to help them eliminate their balance-of-payments deficits? What were the conditions for providing financial help?
What were the basic functions of the International Monetary Fund? What were the sources of the financial resources of the IMF? How were quotas allocated to membercountries by the IMF?
What were the factors that necessitated the formation of the Bretton Woods System? What were the objectives with which the Bretton Woods System was created? Was this system successful in achieving its objectives?
What were the ‘rules of the game’ under the gold standard? Why did the gold standard collapse and how was it restored?
What were the main features of the gold standard? How was the exchange rate determined under the gold standard? How was the balance-of-payments disequilibrium adjusted automatically under the gold standard?
What is meant by the international monetary system? What have been the different stages of the international monetary system?
Distinguish between exchange depreciation and devaluation of a currency. Which of these methods is more affective in improving adverse balance of payments?
What is the purpose of exchange control? Under what conditions exchange control is applied to adjust BOP disequilibrium?
What is meant by devaluation of domestic currency? What are the conditions for effectiveness of devaluation in reversing the adverse balance of payments?
What policy measures are adopted to correct the BOP disequilibrium of deficit kind? What factors determine the effectiveness of policy measures in correcting adverse balance of payments.
What are the implications of a deficit balance-of-payments disequilibrium for the economy as a whole? Explain with examples.
Distinguish between fundamental and cyclical disequilibrium of the balance of payments. Which of the two balance-of-payments disequilibrium is self-correcting?
What are the kinds of balance-of-payments disequilibrium? What are the factors that cause fundamental disequilibrium?
What is meant by autonomous and accommodating transactions? Which of these kinds of international transactions are used to assess the equilibrium or disequilibrium of the balance of payments?
What is meant by a balance of payments equilibrium and disequilibrium?How is equilibrium of the balance of payments assessed?
What is the method of assessing the balance of payments of a country?Explain the system by applying the accounting system used in India.
What is the different between the current account and the capital account?What are the different items in the capital and current accounts? How is the current account balance and current account balance derived?
Distinguish between the balance of trade and the balance of payments?How does the balance of trade affect the balance of payments?
Why is the balance of payments always in balance? Does it mean that a country always has its foreign receipts equal to its foreign payments? If not, why not?
What accounting system is used in balance-of-payments accounting?Explain the double-entry book-keeping system with appropriate examples.
What is meant by the term balance of payments? What is the purpose behind preparing balanceof-payments accounts?
Examine the arguments for and against the fixed and flexible exchange rates. Which of the two is suitable for less developed countries?
How is the exchange rate fixed under the fixed exchange rate system?How is the fixed exchange rate prevented from fluctuating?
What are the various kinds of transactions in foreign exchange? How do various foreign exchange transactions affect foreign exchange?
What is the role of the various organs of the foreign exchange market? Do speculators’ activities necessarily cause exchange rate instability?DETERMINATION OF FOREIGN EXCHANGE RATE 715
Explain the purchasing power parity theory of exchange rate determination. What is the utility of this theory in the modern context?
Show that the demand for foreign exchange is a derived demand.
How is exchange rate determined in a free market? What are the factors responsible for exchange rate fluctuation?
What trade policy has India adopted during the past six decades? How has India’s foreign trade policy changed over time?
What are the major arguments for trade protection? Do these arguments hold under all conditions?
Why do most countries adopt regulatory trade policy while free trade policy looks theoretically more sound?
What is the ‘infant-industry’ argument? Why is this argument discredited with inefficiency?
Critically examine the arguments for trade protection. Why is trade protection desirable for less developed countries?
“Free trade promotes a mutually profitable regional division of labour, greatly enhances the potential of real national product of all nations and makes possible higher standard of living all over the globe.” Explain and critically examine the statement.
Which of the following conditions must be fulfilled, according to Hekscher-Ohlin-Samuelson theorem, for there to be general equilibrium, across ountries A and B?L Lr r(a) A B=(factor ratio)(b) in A = in B (factor price ratio)K Kw wA BA BP P(c) x = x AB PP (commodity price ratio)(d) All the above
Country A is capital-rich if capital-labour price ratio in A compared to that in country B is(a) smaller(b) greater(c) equal(d) none of the above
Country A is capital abundant comparedto contry B hen LL LL(a) A B>
What are the necessary and sufficient conditions for Hickscher-Ohlin Samuelson’s factor price equalization theorem to hold?
Assume that by using all its resources, nation A can produce 80 units of X and 40 units of Y. Comparable figures for nation B are 30 units of X and 30 units of Y. Will the countries specialize? Explain your answer and state your assumptions.
Do you agree with the view that differences in factor endowments are neither a necessary nor a sufficient basis for international trade?
Given two countries and two goods, show that as long as both countries produce some amount of both goods, free trade will lead to complete factor price equalization. What happens when one country completely specializes in the production of one good?
State and explain the conditions under which the factor price equalization theorem of international trade holds. What would be the effect on tendency towards factor price equalization when there is complete specialization in the production of a particular commodity by one of the trading countries?
(a) What do you mean by factor reversibility? What effect will it have on factor price equalization?(b) Give a geometric exposition of gains from trade.
Using diagrams, write short notes on any two of the following:( i) The possibility of trade between countries with same factor endowments and different tastes.( ii) Gains from international trade.( iii) The basis of trade between countries with identical factor endowments, identical tastes and

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Managerial Economics 8th Edition D N DWIVEDI - Solutions

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