How did active government industrialization strategy and industrial policies, including the collaboration between private and public sectors contribute to the East Asian development success?
What will be an ideal response?
The policies included encouraging indigenous skills, technologies, and firms. Upgrading technologies over time from labor intensive to relatively more capital intensive. The government also played a coordinating role with good communication with the private sector.
Economics
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In an economy which produces two goods X and Y, using two inputs L and K, efficient input use occurs when
A) MRTSLKX = MRSLKY B) MRTXY = MRSXY C) MRSX/PX = MRSY/PY D) MRTSLKX = MRTSLKY
Economics
Government purchases, under the expenditure approach to GDP accounting, includes all of the following except: a. welfare payments
b. salaries of senators. c. fighter jets purchased by the government. d. the military payroll.
Economics