Import-substituting industrialization (ISI) policy moves a country toward national self-sufficiency.
Answer the following statement true (T) or false (F)
True
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In comparison to an employer in a competitive labor market, a monopsony employer pays a ________ wage rate and hires ________ workers
A) lower; fewer B) lower; more C) higher; more D) higher; fewer
Suppose that the federal budget is balanced when GDP is at potential GDP. If equilibrium GDP falls below potential,
A) this will result in a current budget deficit. B) government transfer payments will be rising and tax receipts will be falling. C) the cyclically adjusted budget will be balanced. D) All of the above are correct.
An eclectic aggregate supply curve:
A. Is the supply-side counterpart to monetarist and Keynesian assumptions about the shape of aggregate demand. B. Combines elements of the monetarist and Keynesian assumptions about the shape of aggregate supply. C. Maintains a constant upward slope as the economy moves through the business cycle. D. Is horizontal at all levels of output.
Betty is maximizing her satisfaction from spending her budget on two items: movie rentals and music downloads. If the marginal utility she receives from the last movie rental is twice that from the last music download, what is the price of a movie rental if the price of a music download is $0.80?
A. $0.40 B. $1.60 C. $0.80 D. $1.20