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The following questions were asked in Economics paper-1 in the 2020 CSS examination.
1. Critically examine the marginal productivity theory of income distribution.
2. Define balance of payment (BOP) and identify and explain its major component with reference to any one year’s BOP of Pakistan.
3. List the main function of money. Define and discuss the quantity theory of money.
4. Discuss the importance of human capital investment for the economic development of Pakistan.
5. Pakistan Tax to GDP ratio is among the lowest in the world and its share of indirect taxes in the total tax receipt is much higher. Describe and discuss the reasons behind these phenomena and suggest measures to improve Tax to GDP ration in Pakistan.
6. Use IS-LM model to discuss the neutral effect of monetary expressions in the case of an open economy. Distinguish between Keynesian and classical views on neutrality of money.
7. Write comprehensive notes on the following:
- Philip Curve and Nairu
- Laffer Curve
- Marshallian and Hicksian Demand