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Economics – 2014: Answer Writing Challenge – 3


03 September 2014

1) A number of production lines were reserved for the small scale sector in the pre-liberalization period. Did such reservation achieve its objectives? Explain in detail (300 words) 
2) Distinguish between Currency Board Arrangement and dollarization. Why would a nation adopt one or the other? (150 words)
3) What is prisoner’s dilemma? How is it related to a strictly dominant industry? (150 words)