Author Question: The alternative strategy for development that emerged with the establishment of the Soviet Union in ... (Read 56 times)

Anajune7 · **on:** Sep 3, 2018

The alternative strategy for development that emerged with the establishment of the Soviet Union in 1917 and spread after World War II to eastern Europe, China, and Cuba was called

a. state socialism.
b. import substitution.
c. free market protectionism.
d. export-led growth.

Question 2

What impact does import substitution have on the balance of payments?

a. Negative, balance of payments can deteriorate.
b. Positive, balance of payments can improve.
c. None, balance of payments does not change.
d. Unpredictable, impact depends on the circumstances and imports.