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Economics-2015: Answer Writing Challenge – 31


08 October 2014

Q1) Explain the IS-LM approach of interest rate determination. Why this approach is considered superior? (200 Words)

Q2) “Basically it is British colonialism that has led to economic backwardness and vicious circle of poverty in India”. Critically comment upon the statement by giving factual rationale in the light of state of Indian economy since independence ? (300 Words)