CSS Economics PAst Papers Pakistan!

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[h=2]CSS Economics Past Paper 2011[/h]

[h=2]Economics Paper 2010[/h]

Economics 2010 Paper1 part IIQ.2 what is Consumer's Equilibrium ? How a consumer can be in equilibrium under Ordinal Approach? Q.3 How is a firm's demand curve for a particular variable factor input constructed when thee is: i) only one variable input ii) two variable input in the productivity process Q.4What is national income? Define and explain different concepts of National Income Q.5 What is the equation of exchange and the velocity of circulation? What assumptions are necessary to make the equation of exchange the quantity theory of money? Q.6 Differentiate between Balance of Payments and Balance of Trade. What are the transactions that are recorded in the current account and the capital account? Q.7 Explain the theory of comparative cost by David Ricardo. Q.8 Define the concept and methods of deficit financing. What are the reasons for deficit financing in Pakistan? Economics 2010 Paper2 part II Q.2 Define economic development and economic growth . How can you differentiate between these two? Q.3 Explain the important features and trends of Pakistan foreign trades. Q,4 Discuss the cost and benefits of foreign economic assistance and give some suggestions for the solution to the foreign debt problem. Q.5 Explain the major monetary and fiscal measures to promote industrial development in Pakistan. Q.6 Explain critically the land tenure system in Pakistan. Q.7 What is the difference between collective and cooperative framing? Explain the advantages and causes of failure of cooperative framing in Pakistan. Q.8 Give a critical evaluation of the strategy of economic planning in Pakistan.

[h=2]Economics paper,2009[/h] ECONOMICS, PAPER 1 PARRT – 1 MCQS (COMPULSORY) 1. Select the best option/answer and fill in the appropriate box on the answer sheet. 1. Modern microeconomics theory generally regards utility as (a) Cardinal (b) ordinal (c) independent (d) republican 2. A basic assumption of the theory of consumption choice is that (a) The consumer tries to get on highest indifference curve (b) The consumer tries to get the most of the things (c) The budget line is concave (d) None of these 3. The substitution effect must always be (a) Positive (b) negative (c) zero (d) bigger than the income effect 4. The income effect (A) Must always be positive (b) must always be negative © Can is positive or negative (d) must be smaller than substitution effect. 5. Normal good experience an increase in consumption when (A) Real income increases (b) real income falls (c) price raises (d) tastes change 6. The demand for a good is price inelastic if (A) The price elasticity s one (b) the price elasticity is less than one © The price elasticity is greater than one (d) all of these 7. The demand curve with unitary elasticity at all points is (a) A straight line (b) a parabola (c) a hyperbola (d) all of these 8. The marginal product equal the average product when the latter is (a) ½ of its maximum value (b) ¼ of its maximum value © Equal to its maximum value (d) equal to its minimum value 9. A firm’s aspiration level is (a) Its profit last year (b) Its boundary b/w satisfactory and unsatisfactory outcomes © Its highest previous year profit level (d) None of these 10. The firm’s cost functions are determined by (a) The price of its product (b) the assets © Its production function (d) the age of the firm 11. The following industry often is a natural monopoly a) Cigarette industry b) publishing industry c)drug industry d) electric power industry 12. Recognizing that the assumption of perfect competition never hold at all precisely, the perfectly competitive model a) Interesting mainly for academic studies b) Outmoded and seldom used even by academic economics c) Of considerable use to industrial economics as well academics economics d) All of these 13. Under perfect competition, rivalry is a) Impersonal b) Very personnel an direct, advertising and being important c) Non-existent since the firms cooperate d) All of these 14. If average total cost is less than marginal cost at its profit-maximizing output, a perfectly competitive firm a) Will make positive profit b) Will operate at a point to the right of minimum point on the average total cost curve c) Will not discontinue production d) all of these 15. Monopolies arise as consequence of: a) Patents b) control over the supply of a basic input c)Franchise d) all of these 16. A monopolistic firm will expand its output when: a) Marginal revenue exceeds marginal cost b) Marginal cost exceeds marginal revenue c) Marginal cost equals marginal revenue d) Marginal revenue is negative 17. A monopolist will never produce at a point where: a) Demand is price-inelastic b) demand is price-elastic c) Marginal cost is positive d) marginal cost is increasing 18. When demand is elastic a) A fall in more than offset by an increase in quantity demanded, so that the total revenue rises b) The good is a probability a necessity, so price has little effect on quantity demanded c) A rise in increase will increase total revenue, even though less is sold d) Buyers are n [h=2]Economics Paper - I CSS 2008[/h] Economics Paper - I Part I (MCQs) Question No.1 Select the best option /answer and fill in the appropriate box on the answer sheet. 1. in the theory of the firm, profit maximization is always synonymous with: (a) profitability (b) economic profit making (c) maximization of the sales revenue (d) both (a) and (c) (e) none of these 2. the law of demand is valid when price elasticity of demand is: (a) inelastic (b) perfectly elastic (c) unitary elastic (d) both (a) and (c) (e) none of these 3. at the breakeven point a producer covering entire opportunity cost of production happens to produce under a market structure characterized as: (a) perfectly competitive (b) monopoly (c) oligopoly (d) monopolistic competition (e) all of these 4. in the short run, the decreasing returns to scale are caused by the existence of: (a) internal diseconomies (b) external economies (c) technical inefficiency (d) allocative inefficiency (e) both (b) and (d) 5. the left hand side variable of the saving function is always: (a) endogenous (b) exogenous (c) insignificant (d) significant (e) both (b) and (d) 6. the macro management model of the classical function economist assigns the supreme role to the: (a) fiscal policy (b) monetary policy (c) commercial policy (d) market (e) both (b) and (c) 7. while determining the national income equilibrium of an open economy, exports are considered to be: (a) exogenous (b) endogenous (c) autonomous (d) both (a) and (c) (e) both (b) and (c) 8. counterpart of the intercept of consumption function is the intercept of: (a) import function (b) exports (c) saving function (d) X-M (e) None of these 9. price stability in an economy is indicative of: (a) presence of sound money (b) rising output (c) rising employment (d) both (a) and (c) (e) none of these 10. the Central Bank of a country plays a significant role in her macroeconomics performance by regulating the: (a) money supply (b) supply credit (c) interest rate (d) money market (e) all of these 11. the relationship depicted by the Phillips curve is not valid if the change in general price level is : (a) positively related with output (b) negatively related with output (c) positively related with employment (d) negatively related with employment (e) all of these 12. with each successive stage of its operation, the marginal cost of a firm in the banking sector: (a) increase (b) decrease (c) remains constant (d) remains unpredictable (e) none of these 13. the theory of comparative advantage from international trade considers the difference between the trading countries’ factor prices arising from the different in: (a) factor productivity (b) factor intensity (c) factor availability (d) both (a) and (c) (e) all of these 14. Marshell-lerner condition for stability of a foreign exchange market enquires that the sum total of the elasticity of demand for exports and demand for imports is: (a) cross elasticity of demand (b) income elasticity of demand (c) price elasticity of demand (d) both (b) and (c) (e) none of these 15. expenditure switching policies for adjusting the balance of disequilibrium include: (a) commercial policy (b) fiscal policy (c) monetary policy (d) both (b) and (c) (e) all of these 16. deadweight loss of a trade tariff is higher if the demand and supply funct

[h=2]ECONOMICS, PAPER - II CSS 2008[/h]

ECONOMICS, PAPER - II PART – I (MCQ) COMPULSORY Q.1 Select the best option/answer and fill in the appropriate box on the Answer Sheet. (1) Had net exports in Pakistan been reduced to “Zero” by contractionary fiscal policy through the first half of the 1980’s, the Pakistan economy would have: (a) Been producing output will above the full employment level of GNP (b) Been producing output slightly above the full employment level of GNP (c) Been producing output nearly equal to the full employment level of GNP (d) Been producing output slightly lower to the full employment level of GNP (e) Been producing output considerably lower than the full employment level of GNP (2) The internal rate of return of any capital good could reasonably be described as: (a) The particular rate of interest at which the capital good would just be worth buying or building, i.e., the present value of revenue would just be matched by costs. (b) The dollar amount of profit that would accrue if that capital good were bought or build. (c) The same thing as the market rate of interest. (d) The physical increase in output (as distinct from the money value) that would accrue if the capital good were bought or built. (e) The percentage figure obtained by adding up all net revenues that would accrue from the capital good and dividing this total its cost. (3) Consumers have budgeted a fixed money amount to buy a certain commodity. Within a certain range of prices, they will spend neither more nor less than this amount on it. Their demand in this price range would properly be designated as: (a) In equilibrium (b) Perfectly elastic (c) Perfectly inelastic (d) Highly inelastic but not perfectly so. (e) Unit-elastic (4) An economy operating at full employment enters a period of high anticipated inflation. Which of the following statements accurately describes the likely result? (a) Most people increase savings to be better prepared for the higher prices that they know are coming, thereby increasing capital investment, stimulating the rate of economic growth, and supporting lower interest rates. (b) Most people decrease savings to increase current consumption and capital investment, thereby stimulating economic growth and supporting lower interest rates. (c) Most people decrease savings to increase current consumption, thereby slowing capital investment, slowing the rate of economic growth and supporting lower interest rate. (d) Most people increase savings to the better prepared for the higher prices that they know are coming, thereby reducing capital investment, slowing the rate of economic growth and supporting lower interest rate. (e) Most people decrease savings to increase current consumption, thereby slowing capital investment, slowing the rate of economic growth and supporting higher interest rate. (5) (Statement Needed) (a) A general reduction in the tax rate applied to corporate profits. (b) The elimination of the investment tax credit. (c) A reduced emphasis on accelerated depreciation applied to a wide variety of types of capital, particularly building and equipment. (d) The inclusion of intangible capital in the corporate income tax base. (e) A contraction of the effective interest rate deduction against taxable corporate income. (6) An absolute “precondition for growth” is the: (a) Development of some excess of income over consumption. (b) Creation of a surplus labour force for employment in manufacturing. (c) Discovery and exploitation of some internal economics. (d) Cultural acceptance of free enterprise principles of economic behaviour. (e) Development of manufacturing to the point where it can begi

[h=2]Economics Papers[/h]

ECONOMICS, PAPER --I TIME ALLOEED: THREE HOURS MAXIMUM MARKS :100 NOTE: (i) Attempt ONLY FIVE questions in all, including QUESTION NO.8, Which is COMPULSORY. All questions carry EQUALL marks. (ii) Extra attempt of any question or any part of the attempted question will not be Considered. (iii) Candidate must draw two straight lines(================) at the end to Separate each question attempted in Answer Book. Q. 1 Discuss the marginal productivity theory to determine the prices of factors of production. Q.2 What id meant by Oilgopoly? Explain “Zero-sum” game in relation to Game theory. Q.3 explain the concepts of marginal propensity to save and marginal propensity to consume. Also discuss the existing relationship between Marginal propensity to consume and multiplier. Q.4 Explain the quantity Theory of Money with suitable examples. Q,5 What are the basic types of Taxes? Which one is more suitable for developing economy? Q.6 What are the components of Balance of payments? Explain each with suitable example. Q.7. consumer credit is more suitable for developing economy? explain. COMPULSORY QUESTION Q. 8 write only the correct answer in the Answer book. Do not reproduce the question. 1) In perfect competition if a firm maximizes profit, then equilibrium: a) MR=MC. b) AR = AC c) MR = AR = PRICE = MC d) ALL of these 2) The production function will be affected by changes in the prices of: a) Inputs b) out puts c) Neither d)all of the above 3) If a firm can fund an investment from its own sources, the opportunity cost of its investment is a) less than Zero b) Zero c) more than zero d) neither 4) The funds used for further Investment in joint stock company refers to: a) Distributed b) Undistributed c) Remaining d) All of the above 5) The % change in quantity demanded due to % change in income is: a) Price elasticity b) Prices cross elasticity c) Income elasticity d) All of these 6) Indifference curves shows various combinations of: a) One commodity b) Two c) Three d) All of these. 7) equilibrum price is a price at which a) Quantity demanded is equal to quantity supplied b) Quantity demanded minus quantity supplied is zero c) Quantity demanded = quantity supplied d) All of these. 8) in oligopoly market seller are : a) Few b) Four c) Some d) A large number 9) monopoly market is characterized by: a) A large number of sellers b) Only one seller c) Thousands of seller d) All of these 10) A demand curve shows the relationship between the quantity demanded for a commodity over a given time and: a) The tastes of consumer. b) The money income of consumer c) The price of related commodities d) The price of the commodity 11) a supply schedule shows the relationship between the quantity supplied of a commodity over a given time and: a) Factor prices b) Technology c) Both (a) and (b) d) The price of the commodity 12) The intersection of market demand and supply curves for a given commodity determines a) The equilibrium price of the commodity b) The equilibrium quantity of the commodity c) The point of neither surplus nor shortage for the commodity d) All of these 13) If the % change in quantity demanded is more than % change in price coefficient of price elasticity<

[h=2]CSS (Economics) Paper I(Optional)[/h]

[h=2]CSS (Economics) Paper II(Optional)[/h]