Section A
Q1. Answer all the following parts in about 100 words each :
(a) Distinguish between Revenue Deficit, Effective Revenue Deficit, Fiscal Deficit and Primary Deficit.
(b) What is climate finance? Why is it important?
(c) Despite downward sloping demand curve for an industry, why is the demand curve of a firm horizontally parallel?
(d) Why is planning necessary for a developing economy? Explain.
(e) What is the rationale behind Green GDP?
(f) How does Mrs. Hicks make a distinction between formal incidence and effective incidence?