Mercantilism, as advocated in the 16th and 17th centuries, believed that
countries should simultaneously encourage both imports and exports.
~~> False
Largely discredited and primitive, mercantilism still influences the trade
policies of many countries today.
~~> True
Free trade refe...
Climate and natural resource endowments explain all of the following
happening, EXCEPT:
✓ ~~> Switzerland exporting watches.
The difference in growth rates between Ghana and South Korea since 1970
can be attributed to
✓ ~~> Both countries' attitudes towards international trade
Ghana's anti trade policy destroyed the Ghanaian economy because
farmers
✓ ~~> Switched to the production of subsistence food stuffs.
Tariffs are the instrument that the GATT and WTO have been most successful
in limiting.
✓ ~~> True
In recent decades, a fall in subsidies, quotas, and voluntary export restraints
has been accompanied by a corresponding fall in nontariff barriers
✓ ~~> False
Ad valorem tariffs reduce the cost of imported products relative to domestic
products.
Master01 | September, 2024/2025 | Latest update
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