Which of the Following Is Required for a Country to Successfully

question 24

Multiple Choice

Which of the following is required for a country to successfully pursue an import-substitution strategy?

• A) Imposition of protective tariffs
• B) Policies to encourage foreign investment in order to facilitate rapid technology transfer
• C) A flexible exchange rate system
• D) A liberal immigration policy to increase the size of the labor force

---

Definitions:

Privity Of Contract

A principle stating that only the parties involved in a contract have the rights and obligations under that contract.

Market Share Theory

A principle that assigns liability to manufacturers based on their market share of a harmful product when the specific source of harm cannot be identified.

Tortfeasors

Individuals or entities that have committed a tort, which is a civil wrong or injury that can be redressed by awarding damages.

Allegedly Harmful Products

Allegedly harmful products are goods reported or claimed to cause damage or injury, often subject to investigation or legal action to ascertain liability.