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:

Social Psychology

The scientific study of how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Rewards

Benefits or positive outcomes that are given in response to an individual's actions or behaviors, often used as a form of encouragement or motivation.

Positions

The roles or rankings that individuals occupy within a social or organizational structure.

Social Psychologists

Researchers specializing in the scientific study of how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.