What is called the advocacy of protecting domestic producers by impeding or limiting the importation of foreign goods and services ?
Correct answer: B. Protectionism
- A. Domestication
- B. Protectionism
- C. Localization
- D. National interest
Explanation
Protectionism uses tariffs, quotas or similar restrictions to shield domestic producers from foreign competition. Domestication and localization do not specifically refer to limiting imports.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
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.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
What is the rate of exchange or exchange rate ?
Which term is used for a country's holdings of intentionally acceptable means of payment ?
Which theory of economic management focuses on encouraging product through tax reduction ?
How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
The economics system planned economy is ?
How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?