Export-Led Growth Policy Involves

question 33

Multiple Choice

Export-led growth policy involves:

• A) favoring industries that export goods over those that only produce domestically consumed goods through high tariffs.
• B) investing heavily in industry through tax breaks and export subsidies with the aim of selling goods around the world.
• C) encouraging private investment in industries that currently export goods, rather than those expanding domestically.
• D) discouraging imports with high tariffs.

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Definitions:

Plaster

A building material composed of water, lime, and sand, used for coating walls and ceilings or for creating architectural decorations.

Labor

The physical and mental effort used in the production of goods and services by workers.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity of that good supplied by producers, achieving a state of market balance.

Marginal Cost

The additional cost incurred to produce one more unit of a good or service.