The Premise of Import Substitution Industrialization (ISI) Was __________________

question 96

Multiple Choice

The premise of import substitution industrialization (ISI) was __________________.

• A) that by importing foreign technology, developing nations could grow their economies faster
• B) that by using local technologies and materials, developing nations could avoid foreign debt
• C) that by protecting infant industries they could grow shielded from foreign competition
• D) that by removing tariffs on imported materials and manufactured goods, it would increase competition and encourage economic growth
• E) that encouraging imports would accelerate industrialization in developing nations

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Definitions:

Purchasing Power Parity

An economic theory that states that the exchange rate between two currencies is equal to the ratio of the currencies' respective purchasing powers.

Television

An electronic device used for receiving television broadcasts and displaying visual content.

Exchange Rate

The conversion value of one currency into another.

Norwegian Krone

The official currency of Norway, denoted as NOK and used across the country.