What Is the Main Reason Why Import-Substitution Strategies Fail to Generate

question 31

Multiple Choice

What is the main reason why import-substitution strategies fail to generate rapid economic growth?

• A)Deteriorating terms of trade
• B)Scarce natural resources
• C)Inefficient allocation of resources
• D)Lack of self-interested behavior by entrepreneurs
• E)Insufficient subsidies to domestic producers

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Definitions:

Age Groups

Categories of populations divided according to age to simplify analysis and understanding of demographic information.

Pooled Estimator

A statistical method that combines estimates from different sources or samples to arrive at a more accurate or comprehensive estimate.

Population Proportion

Population Proportion represents the fraction or percentage of members in a population that exhibit a particular attribute or characteristic.

MPG

Stands for Miles Per Gallon, a measure to estimate the distance a vehicle can travel per gallon of fuel.