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 8 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?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Estimated terrestrial net primary productivity across Canada. Estimated terrestrial net primary productivity across Canada.
This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Social Institutions in Industrial and Postindustrial Societies. Social Institutions in Industrial and Postindustrial Societies.
Primary succession Primary succession
Primary Glands of the Endocrine System Primary Glands of the Endocrine System
The fiscal policy to counter an inflationary gap is a(n) The fiscal policy to counter an inflationary gap is a(n)
Video: Cellular Respiration & Glucose Mobilization (Glucose transport & Phosphorylation of Glucose)

For a complete list of videos, visit our video library