A. absolute advantage
B. comparative advantage
C. export-led growth
D. import substitution
Correct Answer: import substitution ✔
Last Updated: June 18, 2019
Related MCQs
- Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is the price equals and profits total __________?
- Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?
- Membership in the World Trade Organization for china ?
- The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
- Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?
- An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is _ and the _________ it is for the member producer countries to store/stock pile bauxite?
- Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?
- In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?
- Export-led growth strategies tend to emphasize ?
- Import substitution is an example of ?
- Because supply and demand conditions for primary products are very price inelastic their prices ?
- Which of the following strategies have developing countries not used to deal with the problem of unstable export markets ?
- The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?
- All of the following are trade problems of developing countries except?
- To be considered a good candidate for export cartel, a commodity should ?
- Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?
- For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?
- A widely used indicator to differentiate developed countries from developing countries is ?
- Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
- Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
- Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals quantity equals _ and profits total _________?
- Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?
- The People’s Republic of China ?
- The OPEC oil cartel ?
- Economic growth occurs because ?
- Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
- Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to _ tin and an export quota agreement would require that member countries _________ their export of tin?
- The Generalized System of Preferences (GSP) program allows ?
- Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?
- Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?
- Most of developing-country exports consist of ?
- Concerning tariff policy, the United States does not charge?
- Among the institutions and policies that have been created to support developing countries are?
- To stabilize the prices of primary products international commodity agreements have utilized all of the following except ?
- To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?
- To be considered a a good candidate for an export cartel, a commodity should ?
- The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?
- Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide ?
- Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation ?