Economics · International Trade Theories
Jagdish Bhagwati's concept of immiserizing growth highlights a paradox where economic growth can cause a sharp deterioration in the terms of trade, leading to a net decrease in national welfare. Under which condition is this outcome most likely to occur?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Autarky
- 2Balanced growth
- 3Import-biased growth
- 4Export-biased growth✓
Correct answer
Export-biased growth
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