The relatively rapid economic growth experienced by Chile in the late 1980s
A) supported the conventional Latin American reliance on import substitution.
B) relied on the Harris-Todaro model to explain this growth.
C) rejected the conventional Latin American reliance on import substitution.
D) demonstrated the importance of market failure as a reason for import substitution.
E) relied on high tariffs and import substitution.
C
You might also like to view...
Tom spends $20 a month on CDs and magazines. The price of a CD is $6 and the price of a magazine is $4. When Tom maximizes his utility, the marginal utility from CDs is ________ the marginal utility from newspapers
A) the same as B) 1/2 C) 20 times D) 1 1/2 times
A monetarist economist believes that if the economy was left alone, it would rarely operate at full employment
Indicate whether the statement is true or false
In the Monetarist model,
a. monetary policy and not fiscal policy is the prime factor in aggregate demand movements. b. money demand is more volatile than in the Keynesian model. c. expectations are correct on average. d. aggregate supply is not the primary source of business cycles. e. both a and b.
A consumer's reservation price is the
A) amount she will pay for a hotel or airline reservation. B) minimum amount she will pay for a good or service. C) price that maximizes her surplus. D) maximum amount she will pay for a good or service.