Which of the following was NOT a result of import-substituting industrialization? O It showed that the infant-industry argument is universally valid. O It increased income inequality and unemployment. O It led to an inefficient scale of production. O It produced high rates of protection.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
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Problem 7SCQ: If the removal of trade banters is so beneficial to international economic growth, why would a...
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Which of the following was NOT a result of import-substituting
industrialization?
O It showed that the infant-industry argument is universally valid.
O It increased income inequality and unemployment.
O It led to an inefficient scale of production.
O It produced high rates of protection.
Transcribed Image Text:Which of the following was NOT a result of import-substituting industrialization? O It showed that the infant-industry argument is universally valid. O It increased income inequality and unemployment. O It led to an inefficient scale of production. O It produced high rates of protection.
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