CSS Economics Past Paper 2023
PAPER-I (Subjective) 80 Marks
PART-II
Attempt ONLY FOUR questions from PART-II. (20×4)
Q. No. 2 Is the slope of an indifference curve at a particular point known as the marginal rate of substitution (MRS)? Justify your answer with a graph. If good 1 is a ‘neutral’, what is its MRS for good 2?
Q. No. 3 Define opportunity costs and explain why the economic definition of profit requires that we value all inputs and outputs at their opportunity cost.
Q. No. 4 Briefly describe the functions of the International Monetary Fund (IMF). How does the IMF help countries trapped in financial issues?
Q. No. 5 The central bank in a country is responsible for its monetary policy. What are the objectives and tools of monetary policy? Use diagrams to explain your answer.
Q. No. 6 What is the theory of liquidity preferences? How does it explain the downward slope of the aggregate-demand curve? Use the theory of liquidity preference to explain how a decrease in the money supply affects the aggregate-demand curve in a closed economy.
Q. No. 7 Considering the current economic scenario of our economy, recommend an effective policy framework that can reduce the budget deficit and improve the developmental outlook.
Q. No. 8 Write short notes on any four of the following:
(A) Public Goods
(B) Draw self-explanatory functions of MPC, Aggregate Demand, and Multiplier
(C) Cost minimization by a small firm
(D) Two methods of national income accounting
(E) Fuel poverty
(F) Welfare economics
PAPER–II (Subjective) 80 Marks
PART-II
Attempt ONLY FOUR questions from PART-II. (20×4)
Q. No. 2 What is the Green Revolution? How would you explain that it proved an engine of growth rather than development?
Q. No. 3 Explain the difference between growth and development.
Q. No. 4 Differentiate between appreciation and depreciation of currency and how it affects trade/economy.
Q. No. 5 Explain the relationship between unemployment and inflation through the Phillips curve.
Q. No. 6 Differentiate between absolute advantage and comparative advantage.
Q. No. 7 How does comparative advantage become the basis of international trade between two nations?
Q. No. 8 Write short notes on any two of the following:
(A) Globalization and economic growth and development
(B) Social media and its merits and demerits on Pakistani society and economy
(C) Factors of production and two-sector flow diagram of the economy