MA Punjab University Economics Past Paper-1, 2011 Part-2

by • 18/03/2012 • Punjab Board M.A PAST PAPERSComments (0)194

 

Q1. (a) How do offer curves define the equilibrium relative commodity price?

(b) What forces would push a non-equilibrium relative commodity price towards the equilibrium level?

 

Q2. What is meant by Intra-Industry trade? How it can be measured? How monopolistic competition model is used to measure Intra-industry trade?

Q3. (a) What is meant by production and or consumption being protrade, anti-trade or neutral?

(b) What type of Growth will most likely lead to a decline in the nation’s welfare? What is meant by Immiserizing growth?

 

Q4. (a) Derive the Foreign Trade Multiplier.

(b) How does a depreciation or devaluation of a nation’s currency operate to eliminate a deficit in the current account of Balance of payments?

 

Q5. Compare and contrast the partial equilibrium effects of in import quota with an import tariff.

 

Q6. Explain:

(a) Trade creating custom unions and stalk welfare effects.

(b) Trade diverting custom unions and static welfare effects.

Q7. Write note on any TWO of the following:

(a) Leontief Paradox

(b) Effective Protection

(c) Factor-Intensity reversal

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