Import substitution industrialization (ISI) is a policy devised to
a. promote industrial development by substituting domestic manufactures for imported ones.
b. promote industrial development by substituting imported manufactures for domestic ones.
c. take advantage of single commodity export strength.
d. None of the above is true.
Question 2
The amount of capital (or goods) that can be obtained in exchange for one's exports can be simply referred to as
a. profit motive. c. terms of trade.
b. dependency. d. import-export balance.
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International Economics: Theory and Policy (10th Edition)