Which of the following is true of import-substitution strategies?
a. They dominate the strategies of the developing world.
b. They focus on the production of goods not produced in developed countries.
c. They focus on the production of exportable goods.
d. These strategies lower the price of the domestically produced goods than the imported goods.
e. They generally require the removal of import barriers like tariffs or quotas.
a
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Which type of unemployment contributes to the natural rate of unemployment?
A. Real-wage unemployment B. Cyclical unemployment C. Unemployment of government workers. D. All of these contribute to the natural rate.
You just won the lottery. You have a choice of three different prize options. Option #1: receive $1,200 immediately; Option #2: receive $1,500 a year from now; Option #3: receive $1,800 five years from now. If the interest rate is 15% the ranking of the options, from the lowest present value to the highest is
a. Option #2, Option #3, Option #1 b. Option #3, Option #1, Option #2 c. Option #1, Option #2, Option # d. Option #1, Option #3, Option #2 e. Option #3, Option #2, Option #1
The argument against greater equality in the distribution of income in the United States hinges predominantly on
A. Loss of incentives. B. The loss of horizontal equity. C. A higher marginal revenue product. D. Greater productivity.
The World Bank lends money to countries to
A. finance their international transactions. B. fund wars against dictatorial regimes. C. stabilize their exchange rates. D. promote their economic development.