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Author Question: It is argued that global trade tends to be more important to countries with smaller economies than ... (Read 138 times)

EY67

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It is argued that global trade tends to be more important to countries with smaller economies than the U.S. Is this empirically verified?
 
  What will be an ideal response?

Question 2

________ policies seek to promote rapid industrialization by erecting high barriers to foreign goods to encourage local production,
 
  A) Comparative advantage
  B) Primary-export-led development
  C) Import-substitution development
  D) Outward-looking development



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billybob123

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Answer to Question 1

Yes. Figure 1-2 shows exports and imports as a percentage of national income in the U.S. and five other countries and notes that International trade is even more important to most other countries than it is to the U.S.

Answer to Question 2

C





 

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