Only a few countries have followed outward-oriented development strategies for extensive periods of time. Which of the following countries is not one of those that have followed such a strategy successfully in the last decades
A) Russia
B) Japan
C) South Korea
D) Singapore
A
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Why would a policymaker risk inflation if workers can just renegotiate their wages?
A) There is a change that workers will not fully anticipated the impact of the policy. B) The policymakers want to look like they are actively involved in the economy. C) Inflation is not a high price to pay in the economy. D) The policymakers do not believe that the workers can renegotiate.
From the late 1960s to the late 1990s, the share of GDP devoted to government purchases
A) drifted gradually upward. B) drifted gradually downward. C) remained fairly steady. D) increased, but only after the onset of a war or a military buildup.
How do the wages in the United States compare to those in northern Europe?
a. U.S. wage rates are higher than those of all northern European nations. b. Northern Europe's average wage rates are higher. c. U.S. wage rates are higher than those in Germany and the Netherlands. d. they are similar.
When people become unemployed because of a higher minimum wage, this type of unemployment is called
a. frictional. b. structural. c. cyclical. d. abnormal.