Thank you all for your kind suggestions. From your feedback, I gather that the level of difficulty and detail is not too high. I have grasped the general idea given the basic outlines. If I may ask another question, which I hope will benefit other aspirants as well.

Q6. High tax means large disincentives to productive efforts, that aggregate supply and tax revenues are both restricted. Give your argument for a just tax system. (2006)

Other than the basic types, characteristics, and purpose of a sound tax system, if one was to analyse the statement in the question, I wonder if the following analysis is sound?
i) High tax --> Disposable income falls --> AD shifts down--> lowering both the price level and the National income (Y) leading to a deflationary gap (start at full employment)
ii) Higher tax rate means higher tax revenue, which could finance higher government spending, assuming the increased Gs completely off-sets fall in AD and shifts the AS curve rightwards- it will eliminate the deflationary gap, decrease the price level but increase the National income.
iii) Given a developing economy like Pakistan, the govt is most likely to tax consumption rather than saving, which by implication means a fall in the i.r (can be shown through IS-LM or Liquidity preference,) which could in turn induce higher investment in later years.

I want to know if this analysis is correct, and secondly, given enough time, if it would be relevant in questions pertaining tax implications (and their variants).