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ECONOMICS (ECO415)PAST YEAR QUESTION
JUNE 2014CREATED BY:
SITI NURAZLINDA BINTI MOHD ZAKARIA
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QUESTION 2
a) Defne economic growth. How can economic growth be measured
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R*+. 7DP #! Y*+% 0b) !ased on the artic"e# "ist three $%) cha""enges to achie&e 'ositi&e economic
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c) (hat is the meaning o an o'en econom* E+'"ain.
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d) Defne in,ation. !ased on 'aragra'h - "ist two $2) actors that can in,uenc
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e) How can in,ation be measure (ith aid o a diagram# brie,* e+'"a$) t*'e o in,ation.
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PART BQUESTION
a) E+'"ain basic economic conce'ts. 0i&e e+am'"es.
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c) E+'"ain two $2) determinants o 'rice e"asticit* o demand.
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QUESTION %
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$ +! *%-#c* %/c* 3 '* c/!'% (#' 7DP)
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A!'*% 3*c'#-* "+c%*c!"#c # + 3*''*% /+.#' .#* B .#* # +! #!c%*+* #! '* +"/!' $ +! *%-#c* + &*.. + .#-#!$ *!-#%!"*!'< 3*''*% *+.' c+%* +! "%* .*#/%* '#"* O'*% .* -*%' +! "%* %**" +. #!c%*+* '* /+.#' .#* A .#-#!$ *!-#%!"*!'< #' *9#' &*! '*%* # .* ../'#!< "%* $%**!=< .* c%#"* +! ! Q/+.#' .#* # #?*% %" '* '+!&#c # *-+./+'* 3+* %#"+%#. ! #!c"* Q/+.#' .#* # +%"*+/%* + #' #!-.-* "%* '+! /' '* "!*'+% +*c' T* "c""!. /* "*+/%* % /+.#' .#* # '* H/"+! D*-*."*( HDI ) +! '* P#c+. Q/+.#' L#* I!*9 ( PQLI )
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A % '+'/'% %**%-* %+'#< +.. c""*%c#+. 3+!, +%* %*/#%* ' . + "#*%c*!'+$* '*#% *#' .#+3#.#'#* + %**%-* ' '* c*!'%+. 3+!, (BNM) *%c*!'+$* # c+..* %*/#%* %**%-* %+'# &#c "*+! '+' '* .*$+.. "+!+'%**%-* ' *#' % 3+!, BNM c+! /* '* '+'/'% %**%-* %+'# + + ""*+/%* ' "+!#/.+'* c""*%c#+. 3+!, +3#.#' ' c%*+'* c%*#' +! "!* A'* '+'/'% %**%-* %+'# *%"#' 3+!, ' +-* "%* *9c* %**%-* /' '
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