Ask Question
6 November, 18:42

When a government limits imports via tariffs and quotas and subsidizes exports in order to maximize exports and minimize imports, the country is following A. A mercantilist philosophy B. The theory of absolute advantage C. The theory of comparative advantage D. The Heckscher-Ohlin theory

+4
Answers (1)
  1. 6 November, 19:15
    0
    The correct answer is letter "A": A mercantilist philosophy.

    Explanation:

    The mercantilist philosophy is the economic approach whereby governments control their economies to reduce imports and maximize exports. It is believed that by taking such a measure, the wealth of the nation would increase as a result of the surplus in the balance of trade of the country. The trade balance is calculated by subtracting imports from exports.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a government limits imports via tariffs and quotas and subsidizes exports in order to maximize exports and minimize imports, the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers