A policy in which a government actively picks industries to support as a base for economic development is known as
A. social policy.
B. industrial policy.
C. preferential policy.
D. first-choice policy.
Answer: B
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The absorption approach is a theory of the balance of payments that emphasizes how domestic spending on domestic goods changes relative to domestic output
Indicate whether the statement is true or false
Which of the following government activities is motivated by a concern about efficiency? Check all that apply.
A. Breaking up Standard Oil (which once owned 90% of all oil refineries) into several smaller companies B. Imposing higher personal income tax rates on people with higher incomes C. Providing some poor people with vouchers that can be used to buy food D. Regulating cable TV prices E. Prohibiting smoking in public places F. Instituting laws against driving while intoxicated
The clearest sign of economic growth is a(n)
A. increase in nominal GDP. B. increase in real GDP. C. decrease in nominal GDP. D. increase in nominal GDP.
Modern forms of insurance can be traced back to around:
A. the early 1400s. B. the mid 1800s. C. the late 1700s. D. the early 1900s.