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CPA Economics – April 2023 Past Paper & Answers

Unit: Economics

21 Questions

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Questions

Download CPA Economics April 2023 past paper with detailed answers and marking scheme. This paper is based on KASNEB examination standards and is ideal for revision and exam preparation.

Access the full paper online, download the PDF, or study offline. Each question includes step-by-step solutions to help you understand key concepts in Economics.

Other Economics Past Papers

1a
Demand, supply and determination of equilibrium
​​Identify SIX conditions necessary for price discrimination under monopoly.
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1b
Introduction to economics
​​Enumerate FIVE benefits of studying economics.
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1c
Economic growth, economic development and economic planning
​​List FIVE measures that may be adopted to correct income inequalities in developing countries.
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1d
Demand, supply and determination of equilibrium
​​Highlight FOUR assumptions of indifference curve analysis.
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2a
Economic growth, economic development and economic planning
​​(i) Explain the term “Gini Coefficient” as used in economics. 

(ii) Describe THREE principles of the Gini Coefficient.
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2b
Economic growth, economic development and economic planning
​ ​​State SEVEN roles of the World Bank Group to a member state.
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2c
Economic growth, economic development and economic planning
​ ​ ​​With the aid of a diagram, explain regressive supply curve.
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3a
Money and banking
​​Describe FOUR factors that determine the supply of money in an economy.
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3b
Economic growth, economic development and economic planning
​​Identify FIVE tax measures that a government could adopt to spur growth in the agricultural sector.
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3c
Inflation and unemployment
​​Outline SEVEN demerits of inflation targeting.
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4a
National income
​ ​​The commodity and money markets for a certain economy is given by the following functions:

Commodity market

C = 400 + 0.45y

I = 1700 + 18r

Money market

MS = 1600

MDT = 0.25y

MDS = 800 – 12r 

Required:

(i) Derive the IS function.

(ii) Derive the LM function.

(iii) Determine the equilibrium rate of interest.

(iv) Determine the equilibrium level of national income. 

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4b
National income
​ ​​Explain the following types of multipliers as used in economics: 

 (i) Investment multiplier. 

(ii) Government multiplier. 

(iii) Export multiplier. 

(iv) Consumption multiplier.
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5a
Economic growth, economic development and economic planning
​​Most developing countries are faced with a problem of high external debts. 

 As an economist, outline EIGHT policy measures that the developing countries could put in place to minimise the problem of rising external debt.
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5b
Demand, supply and determination of equilibrium
​ ​​With the aid of a well labelled diagram, explain the law of diminishing marginal utility.
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5c
Demand, supply and determination of equilibrium
​​Enumerate SIX factors that influence the cost behaviour of a manufacturing firm.
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6a
Demand, supply and determination of equilibrium
​ ​ ​​The following information relates to the quantity demanded of commodity X at different prices and income levels of a consumer:

Quantity
Price (Sh.)
Income (Sh.)
1,200
160
60,000
1,000
180
40,000

(i) Determine price elasticity of commodity X and interpret your answer. 

(ii) Determine income elasticity of commodity X and interpret your answer. 
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6b
Economic growth, economic development and economic planning
​​Identify SIX advantages of economic integration to the member states.
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6c
Economic growth, economic development and economic planning
​​Explain FOUR negative effects of increased government spending on economic growth.
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7a
Demand, supply and determination of equilibrium
​ ​​(i) Differentiate between a “stable equilibrium” and an “unstable equilibrium”. 

(ii) With the aid of a well labelled diagram, illustrate an unstable equilibrium.
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7b
Demand, supply and determination of equilibrium
​​Identify SIX criticisms of the marginal productivity theory of wage determination.
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7c
Demand, supply and determination of equilibrium
​​List SIX reasons why mobility of factors of production is important.
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