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Question:
(a) Describe the two major developments which have led in the adoption of Import Substitution Industrialisation by Developing Countries in the 1940s/50s.
(b) Illustrate the logic behind Import Substitution Industralisation
(c) What is the principle justification for Import Substitution Industrialisation? On which ground has this argument been criticised?
Question 2:
(a) Explain the various forms of economic integration.
(b) What are the stages of the European Economic and Monetary Union?
critical of comparative advantage theory
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Q. What do you meant by Monetary Targeting? Monetary Targeting: A policy which attempts to directly limit the growth in total supply of money in the economy. It was main policy
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compare the concept of MRTS with the MRS and discuss the similarities and difference between them?
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