Asked by Madilyn McPherson on Jun 03, 2024
Verified
Suppose a country increases trade restrictions. This country would be pursing
A) an inward-oriented policy, which most economists believe has beneficial effects on the economy.
B) an inward-oriented, which most economists believe has adverse effects on the economy.
C) an outward-oriented policy, which most economists believe has beneficial effects on the economy.
D) an outward-oriented policy, which most economists believe has adverse effects on the economy.
Inward-Oriented Policy
An economic policy strategy that emphasizes domestic industry protection and self-sufficiency over global trade.
Trade Restrictions
Measures imposed by governments to regulate or limit the exchange of goods and services across borders.
- Investigate the role of government actions on the enhancement of economic growth, spotlighting trade limitations and the influx of investments.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
B
Explanation :
Increasing trade restrictions is an example of an inward-oriented policy, which generally aims to protect domestic industries from foreign competition. Most economists believe that such policies have adverse effects on the economy because they can lead to inefficiencies and reduce the overall welfare by limiting trade benefits.
Learning Objectives
- Investigate the role of government actions on the enhancement of economic growth, spotlighting trade limitations and the influx of investments.