Which of the following are implied by the new trade policies?

Higher Tariffs

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Freer imports

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Greater "openness" of the economy

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Import quotas and bans

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Solution

The correct options are
B
Freer imports

C
Greater "openness" of the economy

The selected options are results of the more liberal approach to trade.

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Similar questions

Q23. Which of the following is are non-tariff barriers in international trade

1. Labour laws & environmental laws

2. Anti-dumping laws

3. Custom duties

4. Import Quotas

Choose the correct answer

Q3. Consider the following statements about Trade War:

1. A trade war happens when one country puts up a trade barrier, like strict tariffs.

2. It is done to protect its economy from foreign competition.

Which of the statements are correct?

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