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NMIMS Global Access

School for Continuing Education (NGA-SCE) 

Course:Business Economics

Internal Assignment Applicable for June 2020 Examination

Assignment Marks: 30 Instructions:

Instructions :-

•  All Questions carry equal marks.
• All Questions are compulsory
• All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
•  All answers to be written individually. Discussion and group work is not advisable.
• Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
• Students should write the assignment in their own words. Copying of assignments from other students is not allowed
• Students should follow the following parameter for answering the assignment questions

1. Explain using examples the impact of (expansionary and contractionary) fiscal policy and monetary policy on the exports and imports of goods and services in an economy (10 marks)
    
2. The following information regarding the prices and quantities of each individual good in a hypothetical economy over two years is provided. Determine the Fisher Price Index for Year 1 using Year 0 as the base year.
    

   Item	Year 0 Quantity	Year 0 Price	Year 1 Quantity	Year 1 Price
   A	100	$25	125	$85
   B	150	$40	165	$95

   
   Interpret the difference between Laspeyres and Paasche Price Index for calculating Fisher Price Index. (10 marks)
   
    
3. After a careful statistical analysis, ABC Pizza concludes that the demand function for its Pizza is Q= 600-4P+3Pi+0.2Y, where Q= Quantity demanded for its Pizza, P= Price of its Pizza, Pi= Price of Pizza of XYZ, Y= Disposable income of consumers. In the Year 2020, P= ₹ 80, Pi= ₹ 100, Y= ₹ 5000. Calculate and interpret: a. What is the income elasticity for ABC Pizza? (5 Marks)
   
   b. What is the cross elasticity of demand between the Pizza of ABC and XYZ? (5 Marks)