NATIONAL OPEN UNIVERSITY OF NIGERIA AEM724 Macroeconomics
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS SCHOOL OF SCIENCE AND TECHNOLOGY JUNE/JULY EXAMINATION
COURSE CODE: AEM724
COURSE TITLE: Macroeconomics
TIME ALLOWED: 2 1/2 HOURS
INSTRUCTION: ANSWER ONLY 4 QUESTIONS
- What is Gross National Product (GNP)?
- What are the major determinants of final demand?
- State four functions of money.
- Why would your country embark on an expansionary monetary policy?
iii. Mention the role of Central Bank in implementing expansionary monetary policy.
- Mention the advantages of large capital flow in an economy.
- Mention the challenges/disadvantages posed by large capital flow in an economy.
iii. Define GDP for a given year.
- Name the basic methods of measuring GDP.
- Define economic growth.
- Define economic development.
iii. Mention the basic methods of measuring economic growth.
- I. Define the following:
- GNP at factor cost;
- GNP at market prices;
iii. Net National Product;
- Disposable Income; and
- Transfer Payment.
- II. What is consumption function?
III. Define the following terms:
- Average Propensity to consume;
- Marginal Propensity to consume.
- I. Define the following terms?
- Autonomous investment;
- Induced investment;
iii. Marginal efficiency of investment.
- II. Mention the factors affecting inducement to invest. III. Name the different types of Unemployment.
- I. Define macroeconomics.
- II. Define the following terms:
- Stagflation; and v. Reflation.
- What are the causes of Cost-Push Inflation?
- List the common measures of inflation.
- Define restrictive monetary policy.
- Why does the Central Bank embark on a restrictive monetary policy?
iii. How does the Central Bank carry out restrictive monetary policy?
- Identify the problems of national income measurement in developing countries.