Which of the Following Statements About India's Initial Economic Strategy

question 52

Multiple Choice

Which of the following statements about India's initial economic strategy, which it adopted after Independence, is INCORRECT?

• A) India's strategy involved state planning, while allowing for a role for private entrepreneurs.
• B) This strategy included heavy tariffs in order to protect domestic industry.
• C) This strategy enabled the country to build up an impressive industrial base fairly quickly.
• D) India's economic development strategy included the creation of large public enterprises.
• E) To achieve economic development, India streamlined government red tape to increase the start-up and expansion of private industries.

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Definitions:

Journal Entry

A record in financial accounting that documents a business transaction in the accounting records.

Face Value

The nominal or dollar value printed on a security, such as a bond or stock, representing its official worth.

Quoted Price

The ongoing price tag attached to buying or selling a service or asset.

Selling Price

The amount of money a customer pays to purchase a product or service.