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What impact does import substitution have on the balance of payments?

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What impact does import substitution have on the balance of payments?

What impact does import substitution have on the balance of payments?

a. Negative, balance of payments can deteriorate.
b. Positive, balance of payments can improve.
c. None, balance of payments does not change.
d. Unpredictable, impact depends on the circumstances and imports.

Which term refers to the strategy of producing domestically those goods that a country has been importing?

a. Import substitution
b. Export promotion
c. Terms of trade
d. Late development

In recent decades, three main development strategies have been dominant. Which of the following is not one of these strategies?

a. Export led growth
b. State socialism
c. Import substitution
d. Free market protectionism

In the second half of the twentieth century, export-led growth was dominant in

a. Latin America.
b. Africa.
c. Europe.
d. East Asia.

In the second half of the twentieth century, import substitution was dominant in

a. Latin America, India, and parts of Africa.
b. Africa.
c. Latin America.
d. Europe.

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