When a Developing Country Relies on Import Substitution

question 83

Multiple Choice

When a developing country relies on import substitution,

• A)it sacrifices the gains from specialization and comparative advantage
• B)replaces low-cost foreign goods with high-cost domestic goods
• C)domestic producers, shielded from foreign competition, usually fail to become efficient
• D)other countries often retaliate with their own trade restrictions
• E)All of the answers are correct

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Definitions:

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A country located in North America, consisting of 50 states, and known as the United States of America.

Meaningful Use

The use of certified electronic health record technology to improve quality, safety, and efficiency, and reduce health disparities; to engage patients and family; to improve care coordination, and population and public health; and to maintain privacy and security of patient health information.

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A federal health insurance program in the United States for people who are 65 or older, and for some younger individuals with disabilities.

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A government healthcare program providing medical assistance to individuals and families with low income and resources.