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SIXTH SEMESTER (CUCBCSS—UG) DEGREE EXAMINATION
MARCH 2021

Economics
ECO 6B 11—MACROECONOMICS—II
Three Hours Maximum : 80 Marks
Section A (Objective Type Questions)

Answer all questions.

Each question carries 1 mark.
The classical economists believed that if the quantity of money is doubled :
(a) Output would double. (b) Prices would fall.
(c) Prices would double. (d) Prices would be halved.
In Friedman’s modern quantity theory of money, velocity depends upon :
(a) Interest rates.
(b) The ratio of actual to permanent income.
(c) The ratio of interest rates to actual income.
(d) The ratio of prices to interest rates.
Demand pull inflation is due to :
(a) An increase in cost.
(b) An outward shift in aggregate supply.
(c) Areduction in interest rate.
(d) A reduction in government spending.
Phillips curve shows :
(a) Trade off between inflation and unemployment.
(b) Inverse relationship between inflation and unemployment.
(€) Positive relationship between inflation and unemployment.

(d) Both (a) and (b) are correct.
Turn over