Sophisticated Theoretical Arguments Supporting Import-Substitution Policies Include

question 26

Multiple Choice

Sophisticated theoretical arguments supporting import-substitution policies include

• A) terms of trade effects.
• B) scale economy arguments.
• C) learning curve considerations.
• D) the problem of appropriability.
• E) domestic market failure arguments.

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Definitions:

Contrast Error

a bias in evaluating others' performance by overly emphasizing differences between the individual's performance and the group norm, rather than assessing the performance on its own merits.

Absolute Standard

A fixed criterion of measure that remains unchanged over time and under different conditions.

Perception Error

A mistake in interpreting or understanding information received from the environment due to biases, incorrect information, or misinterpretation.

Cross-Cultural Negotiations

The process of discussing and coming to an agreement between parties from different cultural backgrounds.