Export-led growth policy involves:
A. favoring industries that export goods over those that only produce domestically consumed goods through high tariffs.
B. investing heavily in industry through tax breaks and export subsidies with the aim of selling goods around the world.
C. encouraging private investment in industries that currently export goods, rather than those expanding domestically.
D. discouraging imports with high tariffs.
B. investing heavily in industry through tax breaks and export subsidies with the aim of selling goods around the world.
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There are several reasons why the aggregate demand curve is downward sloping. Which of the following CORRECTLY describes one of these explanations?
A) A rise in the price level raises the purchasing power wealth and increases desired consumption. B) A rise in the price level raises interest rates and increases investment spending. C) A fall in the price level, holding foreign prices and the exchange rate constant, increases net exports. D) A rise in the price level lowers the interest rate and increases investment spending.
According to the above table, what is the absolute price elasticity of demand when price rises from $5.50 to $6?
A. 4.00 B. 0.50 C. 2.23 D. 1.21
Refer to Scenario 7.4 below to answer the question(s) that follow.SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000. To start this business you invested an amount of your own capital that could pay you a $50,000 a year return.Refer to Scenario 7.4. During the year your economic costs were
A. $30,000. B. $50,000. C. $80,000. D. $120,000.
For a linear demand curve
A. elasticity is constant along the curve. B. elasticity is unity at every point on the curve. C. demand is elastic at high prices. D. demand is elastic at low prices.