One obstacle to the adoption of the export promotion model by countries in other regions is that
A) the Uruguay Round of the GATT forbids many types of export promotion policies.
B) research and development for new exports is too expensive.
C) only noncommercial R&D is permitted under the rules of the GATT.
D) industrial monopolies in the high-income countries will block further exports by developing countries.
A
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Which of the following is a problem inherent in centrally planned economies?
A) Production managers are more concerned with satisfying consumer wants than with satisfying government's orders. B) There is too little production of low-cost, high-quality goods and services. C) Exports tend to exceed imports. D) Households and firms make poor decisions in choosing how resources are allocated.
A decrease in currency in circulation combined with an equal increase in savings account deposits would: a. increase both M1 and M2
b. increase M1 but have no effect on M2. c. decrease both M1 and M2. d. decrease M1 but have no effect on M2.
If intended investment is $2,500 billion, and actual investment is $2,000 billion, then we know that
a. saving is –$500 billion b. consumption is –$500 billion c. unwanted inventory is $2,500 billion d. unwanted inventory is $500 billion e. inventory will fall by $500 billion
For complements:
A. price elasticity of income is positive. B. price elasticity of income is negative. C. cross-price elasticity of demand is negative. D. cross-price elasticity of demand is positive.