One of the main arguments in favour of the import substitution policy in the First Republic of Ghana was job creation for the youth.A. TrueB. False

The Ghana government’s policy of reducing or abolishing tariffs on some imports is a normal practice to enhance import substitutionA. TrueB. False

3. The disappointment with import-substitution policies is in part becauseA) of the rapid and continuous growth record of South American countries.B) many countries pursuing this strategy experienced stagnation in their growth.C) this policy is inconsistent with sophisticated economic growth models.D) this policy tended to create world-class industrial competitors.E) of the financial investment lost by the U.S.

The most important factor that influences the competitiveness of Ghanaian export firms is promotion.A. TrueB. False

Ghana exports electric power to Ivory Coast and at the same time imports electric power from Ivory Coast. This is an example of intra-industry tradeA. TrueB. False

One of the main objectives of Ghana’s Economic Recovery Programme of the 1980s was to improve the balance of payment of the Ghanaian economy.A. TrueB. False