The main contributor to growth in the high growth Asian economies, according to empirical research was government industrial policies.
Indicate whether the statement is true or false
Question 2 - Based on Figure 6.1, suppose the government puts a tariff of 0.25 per bushel on soybean imports. How much will the tariff reduce imports?
A) Imports will decrease by 10 million bushels.
B) Imports will decrease by 20 million bushels.
C) Imports will decrease by 60 million bushels.
D) Imports will not change after the tariff.
Question 3 - Measurements of TFP indicate that the East Asian success story is based on
A) a significantly different economic model from the one followed in the West.
B) unusually large amounts of innovation.
C) rapid increases in the education of the work force.
D) high amounts of savings and investment.
Question 4 - Average tariff rates are highest for
A) high-income countries.
B) middle-income countries.
C) low-income countries.
D) industrialized countries.
Question 5 - Total factor productivity is
A) the quantity of output per worker.
B) the quantity of output per unit of capital.
C) the ratio of inputs divided by outputs.
D) the quantity of output per unit of input.
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