Which of the following countries provides the best example of a successful import substitution development strategy?
(a) Chile.
(b) Taiwan.
(c) Argentina.
(d) Botswana.
B
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If income increases and the demand for bus rides decreases,
A) bus rides are a normal good. B) consumers are behaving irrationally. C) bus rides are an inferior good. D) bus rides are a substitute good. E) bus rides must be a complement good with some other good.
A perfect monopoly:
A. refers to a single seller. B. can extract all consumer surplus from a market. C. controls 90 to 100 percent of the market for a product. D. would produce efficient outcomes.
Which of the following is a common criticism of the use of fiscal policy?
A) Fiscal policy is often enacted too quickly, before the market is ready for it. B) A government borrowing money to finance fiscal policy can crowd out investments. C) Expansionary fiscal policy can help pull an economy out of a recession. D) If no fiscal policy is used, the economy will never be able to correct itself, even partially.
In the market for euros, a decrease in U.S. real interest rates tends to
A. decrease equilibrium price. B. increase excess supply. C. increase equilibrium price. D. cause no change in equilibrium price.