21. Protectionism is an economic policy of restraining trade between countries through methods such as tariffs on
Question:
21.
Protectionism is an economic policy of restraining trade between countries through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations. If all countries apply protectionism, everybody loses because trade decreases, causing decreases in production and employment
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(21 out of 40)
2 answers to the question.
True
False
22.
Inter-industry trade involves the exchange of clothing for machinery, that of raw materials for industrial goods or the exchange of labor-intensive goods for capital- and technology-intensive goods
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(22 out of 40)
2 answers to the question.
True
False
23. Key types of international trade are inter- and intra-industry trade. Intra-industry trade refers to the exchange of similar final products belonging to the same industry. The same types of goods are both imported and exported by a country (automobiles, cosmetics, beverages, machinery) *
(23 out of 40)
2 answers to the question.
True
False
24.
The biggest product group in the world trade are fuels, such as oil, gas and coal
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(24 out of 40)
2 answers to the question.
True
False
Expert Answer:
True Protectionism does indeed involve restraining trade between countries through methods such as t... View the full answer
