Explain the 'redistribution of income' objective of Government budget. 

From the following data about a Government budget, find out (a) Revenue deficit, (b) Fiscal deficit and (c) Primary deficit:
                                                                                       (Rs. Arab)
(i) Capital receipts net of borrowings                                       95
(ii) Revenue expenditure                                                        100
(iii) Interest payments                                                            10
(iv) Revenue receipts                                                             80
(v) Capital expenditure                                                          110

Giving reasons classify the following into intermediate products and final products:
Furniture purchased by a school.

34.

Giving reasons classify the following into intermediate products and final products:
Chalks, dusters, etc. purchased by a school. 

Explain the role of the following in correcting 'deficient demand' in an economy: 
Open market operations.

Explain the role of the following in correcting 'deficient demand' in an economy: 
Bank rate

Explain the role of the following in correcting 'excess demand' in an economy: 
Bank rate

Explain the role of the following in correcting 'excess demand' in an economy: 
Open market operations

Distinguish between collusive and non-collusive oligopoly. Explain how the oligopoly firms are interdependent in taking price and output decisions.

Explain the process of money creation by the commercial banks with the help of a numerical example.