A Policy in Which a Country Restricts the Importation of Goods

question 147

Multiple Choice

A policy in which a country restricts the importation of goods and services produced in foreign countries is described by economists as:

• A) two-way trade.
• B) protectionism.
• C) efficient.
• D) one-way trade.

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Definitions:

Unilateral Choice

A decision or action taken by one party independently without consultation or agreement with others.

Substantive Outcomes

The concrete and measurable results of a negotiation or decision-making process, such as terms of agreement, policy changes, or financial settlements.

Relationship Quality

The overall assessment of the strength, health, and positivity of the bond between individuals or groups.

Opening Offer

The initial proposal or bid made in a negotiation, setting the starting point for discussions.