Answer all the problems given below:

A: Long Answer problems (word limit-500 words)

problem 1: Why did classical economists consider trade as the ‘engine of growth’? What is the counter-view projected to this? Describe.

problem 2: In the context of measurement of employment, bring out the complexities included in its measurement in developing the economies.

B: Medium Answer problems (word limit-250 words)

problem 3: Describe with empirical support the trends in electricity produced by sources in India.

problem 4: Do you think that in the context of implementing monetary policy, more autonomy to RBI is needed? Validate your answer.

problem 5: Discuss the main factors affecting the foreign investment flows into a country.

problem 6: Describe the main concept of convertibility of a currency.

C: Short Answer problems (word limit 100 words)

problem 7: What is meant by the term labor flexibility? What are its various forms?

problem 8: Why do you think that there is a requirement for a New International Financial Architecture?