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FPSC · CSS 2002

Economics, Paper I

100 marks · 3 hours · 7 questions
Practice 20 MCQs
This paper Economics · all yearsQ. 1 · Why is equality of Marginal…Q. 2 · "Planned Investment is equal to…Q. 3 · What role can the Central…Q. 4 · "The Modern tendency in economic…Q. 5 · Do you agree that indirect…Q. 6 · Explain the concept of Terms…Q. 7 · Evaluate the following statements:With this paperPart-I MCQs20← 20012002 →
3 hours · questions hide until you reveal them
Q. 1

Why is equality of Marginal Revenue and Marginal Cost essential for profit maximization in all market structures? Examine the significance of this equality in theory of the firms.

(20)
Q. 2

"Planned Investment is equal to Savings at all levels of NNP; actual investment equals savings only at the equilibrium NNP". Do you agree? Explain.

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Q. 3

What role can the Central Bank play in promoting economic growth with stability? Illustrate your answer with reference to Pakistan.

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Q. 4

"The Modern tendency in economic thinking is to discard the old notion of the quantity of money as the sole determinant of the value of money". Elucidate.

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Q. 5

Do you agree that indirect rather than direct taxation will provide large public revenue needed in a developing economy? Explain.

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Q. 6

Explain the concept of Terms of Trade. How do you account for the deterioration of terms of trade of a developing country like Pakistan?

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Q. 7

Evaluate the following statements:

  1. (a)If a product improves in quality from one year to the next year and its price rises to reflect this improvement, Real GNP and GNP deflator both will increase. [10]
  2. (b)If a Pakistani firm decides to build a plant in Japan rather than in Pakistan, GNP of Pakistan will exceed GDP. [10]
(20)

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About this paper

The 2002 CSS Economics paper set by the FPSC. Question wording only; questions marked “Not yet checked” have not been compared with the official paper yet.

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