Industrial policy is an effort by a government to:
A. regulate prices in particular industries.
B. identify the most profitable industries in the world, and adopt them in their country.
C. favor some industries over others.
D. control markets that are industrial.
C. favor some industries over others.
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Which of the following is common to both tariffs and quotas?
A) Tariffs and quotas are both designed to reduce foreign competition faced by domestic firms. B) Tariffs and quotas both increase economic efficiency. C) Tariffs and quotas are both examples of voluntary export restraints. D) Tariffs and quotas are both used as a means to increase government revenue.
As the world moves toward freer trade, the composition of production shifts so that more environmentally "dirty" products are produced in ________ and more environmentally "clean" products are produced in
A. developing countries; industrialized countries. B. developing countries; neither industrialized nor developing countries. C. both industrialized and developing countries; only industrialized countries. D. industrialized countries; developing countries.
Which of the following was a criterion to participate in the European Monetary Union?
A. The country's budget deficit must be less than 10 percent of the value of its gross domestic product (GDP). B. The gross government debt must be less than 100 percent of its GDP. C. The country's exchange rates must be maintained within the Exchange Rate Mechanism bands with no realignments during at least the previous ten years. D. The country's inflation rate must be less than or equal to 1.5 percentage points above the average inflation rate for the three lowest-inflation EU countries.
A quota is
A. a government-imposed restriction on the quantity of a specific good that can be imported. B. a market-imposed balancing factor that keeps prices of imports and exports in equilibrium. C. a law that prevents ecologically damaging goods from being imported into a country. D. a tariff imposed on goods that are dumped in the country.