The correct option in defining the term protectionism.
Answer to Problem 2MCQ
Option c is correct.
Explanation of Solution
Explanation for the correct option:
c.
Protectionism refers to the protection of domestic industries by regulating international traders through trade restrictions, import quotas, etc. It affects the global economy. Therefore, option c is correct.
Explanation for incorrect options:
a.
To protect domestic resources no such trade restrictions, policies, etc. are imposed. Therefore, option a is the incorrect answer.
c.
Consumption level is not restricted or comes under protectionism. Therefore, option c is incorrect.
d.
There are no restrictions on the export level as countries promote their domestic exports. Therefore, option d is incorrect.
e.
Since all of the options are not correct. Therefore, option e is incorrect.
International trade: International trade is an exchange of goods and services across nations. This is due to globalization and
Chapter 44 Solutions
Krugman's Economics For The Ap® Course
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