Which of the Following Is Required for a Country to Successfully

question 32

Multiple Choice

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

• A)imposition of protective tariff
• 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

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Definitions:

Structural Unemployment

Unemployment that stems from changes in industrial structures, primarily driven by technological progress, rather than by shifts in supply or demand levels.

Frictional Unemployment

Frictional unemployment is a form of temporary unemployment that occurs when workers are transitioning between jobs, often due to personal choices or changing economic conditions.

Unemployment Insurance

Financial support provided by the state to those who are out of work not because of their own doing.

Laid Off

The temporary or permanent dismissal of employees from their job due to economic downturns or company restructuring.