The primary objective of inward-oriented strategies is:
a. to raise government revenue through tariffs and other import taxes.
b. to lower the domestic price of imports.
c. to replace imported manufactured goods with domestic goods.
d. to encourage imports through reduction of tariff and non-tariff barriers.
e. to encourage the production of those goods in which the country has an absolute advantage.
c
You might also like to view...
When comparing the annual inflation rate in the United States based on the CPI with the annual inflation rate based on the PCE price index, the data show that the two inflation rates
A) move in opposite directions. B) remained constant over the forty year period after 1979. C) steadily increased over the forty year period after 1979. D) move up and down in similar but not identical ways. E) both fluctuate, but the fluctuations have little relationship to each other.
Firm size alone is not the same as market power, as illustrated by
a. a large automaker raising its prices without concern about competition b. a movie theater in an isolated community facing stiff competition c. wheat farmers selling their commodity product to farm cooperatives d. the only newspaper in a metropolitan area facing competition for advertising sales from TV, radio, and the Internet e. None of the answers is correct
In a country with a working-age population of 20 million, 13 million are employed, 1.5 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The size of the labour force is
A) 20 million. B) 11.5 million. C) 13 million. D) 15.5 million. E) 14.5 million.
Why are utils a useful unit of measure?
a. Utils demonstrate the relative levels of satisfaction a good delivers to multiple consumers. b. Utils demonstrate the relative levels of satisfaction goods deliver to a given consumer. c. Utils can be used to model the sometimes-irrational decisions consumers make. d. Utils can be used to prove that marginal utility and total utility are independent of one another.