General Equilibrium Considerations Lead to the Realization That Import-Substituting Policies

question 27

Multiple Choice

General equilibrium considerations lead to the realization that import-substituting policies have the effect of

• A) discouraging exports.
• B) encouraging exports.
• C) encouraging an efficient use of a country's resources.
• D) generating large tariff revenues for the government.
• E) creating competitive manufacturing sectors.

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Definitions:

Cultural Differences

The variations in the practices, customs, and behaviors observed among diverse cultural groups.

Communication Openness

The degree to which communication in an organization is encouraged to be free, honest, and without restrictions.

Nondefensive

An open and receptive attitude that does not involve guarding oneself against criticism or perceived attacks.

Closed Communication

A communication style or system where information is restricted, limiting open dialogue, feedback, and the free exchange of ideas.