Government policy about exports and imports is called ?
Correct answer: C. Commercial policy
- A. Monetary policy
- B. Fiscal policy
- C. Commercial policy
- D. Finance policy
Explanation
Commercial policy covers government measures regulating international trade, especially exports and imports, such as tariffs, quotas and export incentives. Monetary policy concerns money and interest rates, while fiscal policy concerns taxation and government spending.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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