The idea behind the traditional industrial policy of import substitution is:
A. to protect infant industries until they can become price competitive in the world market.
B. give certain industries a chance to enter a market and gain efficiencies that companies elsewhere in the world have already gained in that industry.
C. build up home industries to compete with others in the world.
D. All of these statements are true.
D. All of these statements are true.
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If the level of technology rises, GDP per hour of labor
A) decreases for a given level of capital per hour of labor. B) increases for any level of capital per hour of labor. C) decreases because the level of capital per hour of labor decreases. D) increases because the level of capital per hour of labor increases. E) does not change because GDP increases only when capital or labor increases.
The cost borne by an individual user to switch to another network is small if the network which he is using is large
a. True b. False Indicate whether the statement is true or false
In a market capitalist economy:
A) markets are not competitive. B) individual ownership and decision making are relied upon. C) consumers have few choices. D) the government owns the factors of production.
A currency depreciation in the foreign exchange market will:
A. Encourage imports into the country whose currency has depreciated B. Discourage imports into the country whose currency has depreciated C. Discourage exports from the country whose currency has depreciated D. Encourage foreign travel by the citizens of the country whose currency has depreciated