A policy of developing local industries that can compete with imports is referred to as ?

Related Mcqs:

1. 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

2. 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

3. 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

4. Tariffs are used to protect infant industries these industries are those which ?

   A. employ many young or untrained workers
   B. are competing with well-established overseas firms
   C. are not yet large enough to achieve economies of scale
   D. use a new technology

5. Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?

   A. lower
   B. higher
   C. about the same height
   D. None of the above

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

   A. absolute advantage
   B. comparative advantage
   C. export-led growth
   D. import substitution

7. Government policy about exports and imports is called ?

   A. Monetary policy
   B. Fiscal policy
   C. Commercial policy
   D. Finance policy

8. In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?

   A. Orderly marketing
   B. trigger pricing
   C. domestic content pricing
   D. dumping

9. To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?

   A. international commodity agreements program
   B. multilateral contract program
   C. generalized system of preferences program
   D. export-led growth program

10. When economists say that developing countries have a dualistic economy the 2 parts referred to are ?

    A. modern sector and traditional sector
    B. town and country
    C. men and women
    D. rich people and poor people