Which of the following was NOT part of Korean industrial policies?
A) An aggressive promotion of exports along with high levels of protection
B) Directed credit and tax breaks given to targeted industries
C) Subsidies given to some targeted firms
D) Bailing out bankrupt firms without any attempt to dispose distressed firms
E) Allowing exporting firms to borrow funds at below-market interest rates
D
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Economic policy
a. always follows economic theory. b. develops rules and principles of economics. c. is often modified by political and social considerations. d. All of these.
Which of the following statements is false?
a. The largest source of state and local governments tax revenue is sales and excise taxes. b. The largest source of federal government tax revenue is individual income taxes. c. A sales tax on food is a regressive tax. d. A proportional tax is equal to a fixed dollar amount.
M1 is considered ___________ measure of money compared to M2.
A. a more legitimate B. a less legitimate C. just as legitimate a D. a more stable
Adverse selection and moral hazard are problems that arise in the presence of asymmetric information.
Answer the following statement true (T) or false (F)