Eco401 Current Spring 2012 Final Term VU Paper [July 2012] Virtual University of Pakistan
1. Differentiate between ignorance and irrationality with respect to rational decision making.
2. Differentiate between real GDP and nominal GDP.
3. At what point the equilibrium occurs in the foreign exchange market?
4. By how many ways a government can finance it’s fiscal deficit?
5. Briefly discuss different types of taxes which a government can impose.
6. Why could the world as a whole could not experience a problem of a current account balance of payment deficit?
There were two more five marks questions, one about Injections
calculation and other was about revenues.
2. Differentiate between real GDP and nominal GDP.
3. At what point the equilibrium occurs in the foreign exchange market?
4. By how many ways a government can finance it’s fiscal deficit?
5. Briefly discuss different types of taxes which a government can impose.
6. Why could the world as a whole could not experience a problem of a current account balance of payment deficit?
There were two more five marks questions, one about Injections
calculation and other was about revenues.
