CSS Economics Past Paper 2019

Instructions specific to this paper

• Attempt ONLY FOUR questions from PART-II. ALL questions carry EQUAL marks.
• Attempt ONLY FOUR questions from PART-II. ALL questions carry EQUAL marks.

Questions

1. Q. 220 marks

   Use the IS-LM model to discuss the Neutral effect of monetary expansion in the case of open economy. Distinguish between Keynesian and Classical Views on neutrality of money.

2. Q. 320 marks

   What do you understand by Monetary Transmission Mechanism (MTM)? Evaluate and explain at least three different channels of MTM.

3. Q. 420 marks

   What do the slopes of an isoquant line and iso-cost line measure? Describe theoretically and graphically the conditions that are satisfied when a firm has chosen a least cost technique for producing a given output.

4. Q. 520 marks

   What are tariff and nontariff barriers to international trade? Why do countries sometimes restrict international trade?

5. Q. 620 marks

   Extricate among fixed, flexible and managed floating exchange rate regimes.

6. Q. 720 marks

   Describe the underdevelopment trap. Highlight the main ways in which poor countries attempt to overcome their poverty.

7. Q. 820 marks

   Distinguish between any FOUR. (5 each) a. Comparative advantage and Absolute advantage. b. Consumer surplus and producer surplus c. Progressive and regressive taxes d. Economic growth and economic development e. Real GNP and nominal GNP f. Consumer price index and GDP deflator

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.