Which of the Following Is True of Import Substitution

question 92

Multiple Choice

Which of the following is true of import substitution?

• A) The government encourages domestic producers to make products that can compete in the international market.
• B) The government takes steps to liberate imports and lift restrictions.
• C) The government takes steps to promote exports and subsidizes export-oriented production.
• D) The government insulates domestic producers by imposing strict tariffs and quotas.
• E) The government focuses on service-oriented imports rather than primary imports.

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Definitions:

Standard Error

A measure of the statistical accuracy of an estimate, calculated from the standard deviation of a series of estimates.

Population Standard Deviation

A measure of the dispersion or spread of a set of data points in a population.

Standard Error

The standard deviation of the sampling distribution of a statistic, commonly used to measure the accuracy of a sample mean.