Import-Substitution Industrialization Is Based on Neo-Liberal Principles of Reduced Government

question 33

True/False

Import-substitution industrialization is based on neo-liberal principles of reduced government protection of industries, fiscal austerity, and privatization.

---

Definitions:

Commercial Substance

A characteristic of a business transaction that leads to a change in the cash flows of the entity, indicating that the change has a significant economic effect.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.

Fair Value

The fund received from an asset sale or the cost for a liability shift in a smoothly facilitated transaction among participants of the market on the price determination date.

Capital Cost Allowance

A taxable expense in Canada that allows a business to deduct the cost of a capital asset over time.