CSS Economics Past Paper 2018

Instructions specific to this paper

• Attempt ONLY FOUR questions from PART-II. ALL questions carry EQUAL marks.
• Perfect and Pure competition
• Monetary policy and its tools to control of money supply
• Balanced and Un-balanced growth theory

Questions

1. Q. 220 marks

   (a) State the bases of IS-LM framework (equations &establish equilibrium) and (15) comment whether it is a short run or long run analysis. State bases for your answer. (b) Do you think this approach (a) above, is still applicable for policy formulation. (5)

2. Q. 320 marks

   (a) How the concepts of notional aggregate demand (Keynesian) and real aggregate (10) demand (neo-classical), leads to economic fluctuations in the economy. (b) How equilibrium is established in the market under the above (a) approaches. (10)

3. Q. 410 marks

   (a) Analyze three different shapes of Aggregate Supply Curve (Constant, positively sloped and vertical). (b) Explain the role of shifts in Aggregate Demand and their impacts on economy (10) (20) in all three types of Aggregate Supply Curves. Relate such impacts in response to Fiscal policy.

4. Q. 520 marks

   (a) Explain Arc and Cross elasticities and analyze their role in decision making by (10) the consumers. (b) Point out application of these theories; quote such examples and explain. (10)

5. Q. 610 marks

   (a) Discuss major cannons of taxation and their relevance to tax system in Pakistan. (b) Do you think that the tax system in Pakistan is based upon cannons of taxation (10) (20) (restrict your discussion to the application of cannons of taxation).

6. Q. 720 marks

   (a) What is Balance of Payment? Point out its major components. (10) (b) Analyze any one years’ BOP of Pakistan. (10)

7. Q. 820 marks

   Write short note on any TWO of the followings. (10 each) (i) Perfect and Pure competition (ii) Monetary policy and its tools to control of money supply (iii) Balanced and Un-balanced growth theory

Standard FPSC instructions

Printed on this and every CSS paper.

• Part-II is to be attempted on the separate Answer Book.
• All the parts (if any) of each question must be attempted at one place instead of at different places.
• Write Q. No. in the Answer Book in accordance with Q. No. in the question paper.
• No page/space be left blank between the answers. All the blank pages of the Answer Book must be crossed.
• Extra attempt of any question or any part of the attempted question will not be considered.