Proponents of ISI assumed that governments
A) were capable of identifying and correcting market failures.
B) were capable of identifying and correcting the excesses of economic populists.
C) should enact orthodox stabilization plans.
D) could control the terms of trade.
E) Both A and D.
A
Economics
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Suppose the market for grass seed is expressed as:
Demand: QD = 100 - 2p Supply: QS = 3p Price elasticity of supply is constant at 1. If the supply curve is changed to Q = 8p, price elasticity of supply is still constant at one. Yet with the new supply curve, consumers pay a larger share of a specific tax. Why?
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Unlike the GDP deflator, the CPI does not consider goods and services purchased by business and government
a. True b. False Indicate whether the statement is true or false
Economics