Question

Blank #1: inward-oriented or outward oriented?

1. International trade and development Aa Aa E After World War II, the Argentine government actively supported domestic production of textiles, leather, and home appliances for domestic use. This is an example of an development strategy, the objective of which is What are common criticisms of this kind of policy? Check all that apply. If the economy specializes in producing primary products, it will be harmed over time by deteriorating terms of trade. It may cause industries to develop unevenly, making the country more susceptible to becoming a dual economy. It tends to generate lower growth rates than those in economies that use the other primary strategy.

Blank #2: Export substitution or import substitution?

Select all that apply

Answer 1

Blank 1: inward-oriented

Because in an inward-oriented development strategy, a country adopts it to restrict international trade and restrictions are imposed on imports.

Blank 2: import-Substitution

Import-substitution advocates replacing foreign imports with domestic production.

B)

The economy will be harmed overtime by deteriorating terms of trade.