Foreign Economic Policy Quiz
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Questions and Answers

What is the primary aim of foreign economic policy?

  • To promote domestic consumption
  • To regulate environmental standards
  • To enhance international trade and investment (correct)
  • To increase government spending

    • What is NOT a typical goal of foreign economic policy?

  • Enhancing national security
  • Achieving a favorable balance of trade
  • Maximizing inflation rates (correct)
  • Fostering diplomatic relations

    • Which type of foreign economic policy focuses on increasing exports and reducing imports?

  • Protectionism (correct)
  • Export promotion
  • Free trade
  • Import substitution

    • What is the main objective of import substitution policies?

    <p>Reducing reliance on foreign goods by producing them domestically</p> Signup and view all the answers

    Which type of foreign economic policy emphasizes reducing barriers to trade and investment?

    <p>Free trade</p> Signup and view all the answers

    What is the primary concern of mercantilist foreign economic policies?

    <p>Maximizing a nation's exports and accumulating wealth</p> Signup and view all the answers

    Which goal is NOT a primary objective of export promotion policies?

    <p>Encouraging imports</p> Signup and view all the answers

    What type of foreign economic policy involves protecting domestic industries from foreign competition through tariffs and quotas?

    <p>Protectionism</p> Signup and view all the answers

    What is the primary objective of foreign aid as a tool of foreign economic policy?

    <p>Reducing poverty and promoting development in recipient countries</p> Signup and view all the answers

    What type of foreign economic policy focuses on fostering economic cooperation and integration among nations?

    <p>Regional integration</p> Signup and view all the answers

    What is the primary goal of economic sanctions as a tool of foreign economic policy?

    <p>Discouraging certain behaviors or policies in target countries</p> Signup and view all the answers

    What is the primary objective of trade agreements such as NAFTA and the European Union?

    <p>Promoting regional economic integration and cooperation</p> Signup and view all the answers

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