When a Country Eliminates Tariffs and Other Trade Restrictions, Intending

question 85

Short Answer

When a country eliminates tariffs and other trade restrictions, intending to promote economic growth, it is pursuing _______-oriented policies.

---

Definitions:

Real Interest Rate

The inflation-adjusted interest rate, revealing the bona fide cost of obtaining a loan or the genuine interest earned on savings.

Nominal Interest Rate

The interest rate before adjustments for inflation, representing the stated or face interest rate on a loan or investment.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling over a specific period of time.

CPI

This index reflects the mean shift in costs over time for a collection of consumer goods and services as experienced by urban buyers.