CSS Economics Past Paper 2020

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

   Critically examine the marginal productivity theory of income distribution.

2. Q. 320 marks

   Define Balance of Payment (BOP) and identify and explain its major components with reference to any one year’s BOP of Pakistan.

3. Q. 420 marks

   List the main functions of money. Define and discuss the quantity theory of money.

4. Q. 520 marks

   Discuss importance of human capital investment for the economic development of Pakistan.

5. Q. 620 marks

   Pakistan’s Tax to GDP ratio is among the lowest in the world and its share of indirect taxes in the total tax receipts is much higher. Describe and discuss reasons behind these phenomena and suggest measures to improve tax to GDP ratio in Pakistan.

6. Q. 720 marks

   Use the IS-LM model to discuss the neutral effect of monetary expansion in the case of an open economy. Distinguish between Keynesian and classical views on neutrality of money.

7. Q. 820 marks

   Write a short note on any TWO of the following:- (10 each) (a) Phillips Curve and NAIRU (b) Laffer Curve (c) Marshallian and Hicksian Demand

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.