The experience of Chile's foreign sector in the last two decades of the 20th century supports the proposition that economic growth is supported by
A) import substitution.
B) industrialization policies.
C) trade liberalization policies.
D) intra-industry trading.
E) trade embargoes.
C
You might also like to view...
Real GDP per person is not an accurate measure of the standard of living because it ______
A. includes the goods and services that governments buy B. omits the goods and services that people produce for themselves C. includes goods and services bought by firms D. omits the goods and services imported from other countries
If government spending in a country declines by $10 billion and, at the same time, taxes increase by an equal amount, what is the total effect in the economy?
a. Equilibrium real GDP increases b. Equilibrium real GDP increases by $20 billion c. Equilibrium real GDP is unchanged d. Equilibrium real GDP decreases by more than $10 billion and less than $20 billion e. Equilibrium real GDP decreases by more than $20 billion
When a new firm considers entering a market, it takes into account only the profit it would make. What are the two external effects that occur in the market that the firm does not consider?
Which is the distinguishing feature of the standard cobweb model?
A. Real wages steadily increase. B. Capital is not fixed in the short run. C. Payroll taxes create a tax wedge, which in turn increases overall employment levels. D. The firm is a perfectly discriminating monopsonist. E. Wages and employment levels adjust slowly over time.