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FPSC · CSS 2020

Economics, Paper I

100 marks · 3 hours · 7 questions
This paper Economics · all yearsQ. 2 · Critically examine the marginal productivity…Q. 3 · Define Balance of Payment (BOP)…Q. 4 · List the main functions of…Q. 5 · Discuss importance of human capital…Q. 6 · Pakistan's Tax to GDP ratio…Q. 7 · Use the IS-LM model to…Q. 8 · Write a short note on…With this paper← 20192020 →
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Part II

Q. 2

Critically examine the marginal productivity theory of income distribution.

(20)
Q. 3

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

(20)
Q. 4

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

(20)
Q. 5

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

(20)
Q. 6

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.

(20)
Q. 7

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.

(20)
Q. 8

Write a short note on any TWO of the following:-

  1. (a)Phillips Curve and NAIRU [10]
  2. (b)Laffer Curve [10]
  3. (c)Marshallian and Hicksian Demand [10]
(20)

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About this paper

The 2020 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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