Q1. Write down the conditions for the least-cost combination of the inputs? Describe the maximization of output with the help of isocosts and isoquants.
Q2. Describe that price is greater and output smaller under the monopoly as compared to those under the perfect competition.
Q3. Explain in brief the concepts of aggregate demand, aggregate supply, consumption, saving and investment. Explain how do they matter in the theory of the national income distribution?
Q4. Describe the causes of various types of disequilibrium in the balance of payments? Explain how does it influence employment, inflation and atmosphere in a country?
Q5. Write detail notes on the given:
a) Synthesis of Monetary and Real Factors
b) Demand Forecasts