An Effective Policy to Reduce a Trade Deficit in a Small

question 57

Multiple Choice

An effective policy to reduce a trade deficit in a small open economy would be to:

• A) increase tariffs on imports.
• B) impose stricter quotas on imported goods.
• C) increase government spending.
• D) increase taxes.

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Definitions:

Utility Analysis

A quantitative method used to assess the economic value or impact of human resource interventions and decisions.

Internal Recruiting

The practice of filling job vacancies within a company using existing employees rather than hiring externally.

Higher-level Positions

Job roles that encompass more responsibility, authority, and usually offer higher pay, often accompanied by managerial or executive duties.

Homesourcing

A business practice where employees work from their homes instead of the traditional office setting, also known as telecommuting.