The policy in which industrial production is oriented towards foreign consumers is called
A. import substitution.
B. export orientation.
C. import promotion.
D. export promotion.
Answer: D
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Canada produces MP3 players and lumber, and the marginal costs for the two products are $200 per 1,000 board-feet of lumber and $100 per MP3 player
China also produces these goods, and the marginal costs are $300 per 1,000 board-feet of lumber and $100 per MP3 player. Which country has the comparative advantage in lumber production? A) Canada B) China C) Both countries share the comparative advantage. D) We need more information to answer this question.
"Anticompetitive practices" are actions by a powerful firm that:
a. threaten to destroy competitors b. force competitors to compete less vigorously c. prevent the entry of new rivals. d. all of these are true.
A country reported nominal GDP of $200 billion in 2010 and $180 billion in 2009 . It also reported a GDP deflator of 125 in 2010 and 105 in 2009 . Between 2009 and 2010,
a. real output and the price level both rose. b. real output rose and the price level fell. c. real output fell and the price level rose. d. real output and the price level both fell.
In the U.S. economy, sole proprietorships account for over half the firms, but corporations account for over half of total sales revenue.
Answer the following statement true (T) or false (F)