This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a primary disadvantage of industrial policy? What will be an ideal ... (Read 9 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
on: Jul 7, 2018
What is a primary disadvantage of industrial policy?
 
  What will be an ideal response?

Question 2

What is opportunity cost? Why is opportunity cost an important consideration when determining what a country should export and import?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 7, 2018
Answer to Question 1

Some experts argue that government bureaucrats cannot perfectly identify the right industries to favor under such a policy.

Answer to Question 2

The opportunity cost of a good is the value of what is given up to get the good. Opportunity cost acknowledges that a country should also consider how its efforts are best spent. While a country may be absolutely more productive than another country, it must consider that productivity relative to other things that the country could be producing.


HCHenry

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jul 7, 2018
Correct answers!


TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 7, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

The leaf is usually the primary site of photosynthesis in plants. The leaf is usually the primary site of photosynthesis in plants.
The primary ignition system is used to trigger and therefore create the secondary (high-voltage) ... The primary ignition system is used to trigger and therefore create the secondary (high-voltage) ...
Food policy can drive the food industry Food policy can drive the food industry
The executive legislative "struggle" over foreign policy The executive legislative "struggle" over foreign policy
Satellite data showing net primary production. Productivity is coded as red (highest) down through o Satellite data showing net primary production. Productivity is coded as red (highest) down through o
Primary and secondary immune responses Primary and secondary immune responses
Video: Coronary Heart Disease Animation

For a complete list of videos, visit our video library