Author Question: In most less developed countries, the initial target of import substitution is to promote domestic ... (Read 72 times)

Zulu123 · **on:** Jun 30, 2018

In most less developed countries, the initial target of import substitution is to promote domestic production of

(a) consumer goods.
(b) food and other agricultural goods.
(c) capital goods.
(d) manufactured intermediate goods.

Question 2

The supply curve of labor to industry in the Lewis model is horizontal if there is surplus labor in agriculture. This condition persists as long as

a. the marginal product of labor is less than the average product of labor in agriculture.
b. the marginal product of labor in agriculture is less than the marginal product of labor in industry.
c. there are diminishing returns to labor in agriculture.
d. the marginal product of labor in agriculture is zero.

l.stuut · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

A

Answer to Question 2

D

Author Question: In most less developed countries, the initial target of import substitution is to promote domestic ... (Read 72 times)

Zulu123

In most less developed countries, the initial target of import substitution is to promote domestic ...

l.stuut

In most less developed countries, the initial target of import substitution is to promote domestic ...

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