Differentiate between import-substituting industrialization
Differentiate between import-substituting industrialization and export-oriented industrialization. Which approach has been more successful? Why? In your answer, compare the relative success of East Asia and Latin America.
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Differentiate between import-substituting industrialization and export-oriented industrialization. Which approach has been more successful? Why?
Recall also that, in equilibrium the real output produced (Y) is equal to aggregate expenditures: Y=C+Ig+Xn B. What happens to equilibrium Y if Ig changes to 10, will the outcome reveal the size of the multiplier
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Eurocentrism, nation state, autocracy, eastern orthodox church, cossacks
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