Economists Favor Export Promotion Over Import Substitution as a Policy

question 32

Multiple Choice

Economists favor export promotion over import substitution as a policy for economic growth because:

• A)it provides infant industries with a protected market.
• B)it favors replacing high-cost foreign goods with low-cost domestic goods.
• C)it improves the efficiency of foreign producers.
• D)it emphasizes comparative advantage and trade expansion.
• E)it emphasizes trade restrictions and helps provide a market for domestic goods.

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Definitions:

Cataracts

A medical condition where the lens of the eye becomes progressively opaque, resulting in blurred vision.

Accommodation

In cognitive psychology, the process of modifying existing cognitive schemas or perceptions to incorporate new information.

Optic Nerve

The nerve that carries neural impulses from the eye to the brain.

Bottom-Up Processing

Analysis that begins with the sensory receptors and works up to the brain’s integration of sensory information.