29.
30.
31.
32.

33.
34.

35.
36.

4 C 30476
Discuss the view that ‘saving is a leakage’ in the Keynesian Theory.
Explain the comparative static and dynamic equilibrium.
Explain the national income concepts and their inter-relationship ?
Explain the objectives of fiscal policy ?
(6 x 5 = 30 marks)
Part D (Essay Questions)

Answer any two questions.
Each question carries 12 marks.

Explain the model of income determination in a three sector economy.

Explain the relationship between national income and national welfare and also state the limitations
of national income as a measure of national welfare.

Explain quantity theory of money and its modification.
Classical model of output and employment determinants.
(2 x 12 = 24 marks)