If All Countries Try to Expand Their Exports and Restrict

question 126

Multiple Choice

If all countries try to expand their exports and restrict their imports through the use of export subsidies and import tariffs,the net effect will probably be

• A)a fall in the volume of trade and an increase in the standard of living in each country.
• B)a fall in the volume of trade and a decline in the average living standards in each country.
• C)an increase in the volume of trade but little change in unemployment levels.
• D)no change in the volume of trade but an increase in the overall unemployment rates.
• E)no change in the volume of trade but less unemployment.

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Definitions:

Identity Crisis

A period of uncertainty and confusion in which a person's sense of identity becomes insecure, often due to a change in expected roles or perceptions of self.

Moratorium

A period of delay or suspension of activity, often used in the context of development to describe a phase where individuals explore various identities without making final decisions.

Identity Diffusion

A status of identity development in which an individual has not yet undergone an identity crisis or committed to a set of personal values and goals.