_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

Related Mcqs:

1. If a government uses barriers to foreign products such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features the government is using ?

   A. Protectionism
   B. exchange controls
   C. exchange facilitators
   D. nontariff trade barriers

2. A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?

   A. free trade area
   B. customs union
   C. common market
   D. monetary union

3. Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?

   A. import substitution
   B. export promotion
   C. commercial dumping
   D. multilateral contract

4. ____ was a strategy for industrial development popular in Latin America in the 1950s 1 1960s for promoting domestic production by erecting high protective tariffs on imports of manufactured goods ?

   1. export led growth
   2. import substitution
   3. dynamic hedging
   4. countervailing duties

5. Industrial policies intended to foster comparative advantage for domestic industries could result in the implementation of ?

   A. research and development subsidies
   B. loan guarantees
   C. low interest rate loans
   D. All of the above

6. Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

   A. I and III only
   B. II and III only
   C. I, II and III only
   D. I, II , III only IV

7. S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?

   A. S – I = X = M
   B. S + I = X + M
   C. S = I – (X+M)
   D. S-I = X/M

8. What is called the difference in the value of a nation’s imports over exports or exports over imports ?

   A. Trade deficit
   B. Trade simples
   C. Both a & b
   D. Not a nor b

9. When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

   A. trade creation
   B. trade diversion
   C. dynamic welfare effects
   D. comprehensive welfare effects

10. A depreciation of the dollar will have its most pronounced impact on imports if the demand for imports is ?

    A. constant
    B. inelastic
    C. elastic
    D. Unitary elastic