Economic Globalization and Trade Policies
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Questions and Answers

What is the primary objective of protectionism?

  • To promote international trade and cooperation
  • To reduce economic interdependence among nations
  • To impose stricter regulations on international capital flows
  • To encourage domestic production and discriminate against foreign competitors (correct)
  • What is the primary purpose of tariffs in the context of trade protectionism?

  • To promote free trade and economic cooperation
  • To reduce economic interdependence among nations
  • To impose fees on imports and exports to protect domestic industries (correct)
  • To facilitate the flow of international capital
  • What is the ultimate goal of trade liberalization?

  • To increase economic interdependence among nations
  • To remove or reduce restrictions on the free exchange of goods between nations (correct)
  • To impose stricter regulations on international trade
  • To promote domestic production and restrict foreign competition
  • What is the term used to describe the increasing interdependence of world economies due to cross-border trade and the flow of international capital?

    <p>Economic globalization</p> Signup and view all the answers

    What is the term used to describe the removal or reduction of restrictions on the free exchange of goods between nations?

    <p>Trade liberalization</p> Signup and view all the answers

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