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3. Countries that institute protectionist policies lose the economic gains associated with international trade. True or False.

a. True

b. False

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Raushan Raj
Raushan RajLv8
3 Nov 2020

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Related questions

6. (a) Why do most countries have some protectionist trade barriers? (b) Identify two types of protectionist trade barriers. (c) Which is usually better for most countries, protectionist trade policies or free trade? Explain. (d) For most countries would a fair trade policy usually be the same as a free trade policy? Explain. (e) Which is better for a country economically, a multilateral free trade agreement including most countries, such as the WTO, or a regional trade agreement with one’s neighboring countries, such as NAFTA? Explain.

(a) Why do most countries have some protectionist trade barriers?

(b) Identify two types of protectionist trade barriers.

(c) Which is usually better for most countries, protectionist trade policies or free trade? Explain.

(d) For most countries would a fair trade policy usually be the same as a free trade policy? Explain.

(e) Which is better for a country economically, a multilateral free trade agreement including most countries, such as the WTO, or a regional trade agreement with one's neighboring countries, such as NAFTA? Explain.

Protectionist trade policies are often enacted with the political intention of strengthening exports, and hence GDP. Examples of protectionist trade policies include quotas and import taxes.

a. What is the impact of the protectionist trade policy on the real exchange rate (assume we are using the US an as example, and the US has enacted some protectionist policies)?

b. What is the impact on overall GDP?

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