If the exchange rate ________, the quantity of dollars demanded ________ and there is a movement up along the ________ curve for dollars

Import Substitution (IS) strategies have been defended on the basis of

a. export pessimism b. the desire to industrialize c. the potential for learning by doing d. the desire to save on foreign exchange e. all of the above

A closed economy refers to an economy in which:

A. a country exports, but does not allow imports. B. all goods are produced and sold domestically. C. intermediate goods are sold domestically. D. all goods are consumed domestically.