The mercantilists (1500-1800) advocated the use of: Question 22 options: a) government spending as a means to stimulate a slowing economy. b) government trade restrictions, such as tariffs and quotas, to achieve a favorable trade balance. c) free international trade policies to enhance a nation's economic welfare. d) trade policies designed to simultaneously minimize exports and maximize imports.
Added by Jonathan A.
Step 1
Step 1: The mercantilists believed in the idea of a favorable trade balance, where a country exports more than it imports in order to accumulate wealth and power. Show more…
Show all steps
Your feedback will help us improve your experience
Haricharan Gupta and 76 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
A nation practicing mercantilism aims to a. keep the government out of the economy. b. establish an excess of exports over imports. c. balance imports with exports. d. replace gold and silver with paper money. e. reduce the size of the military sector.
Haricharan G.
Which of the following is true of free trade zones? (like NAFTA now USMCA) A) They are groups of nations organized to work toward common goals. B) They were formed to increase trade barriers between member nations. C) They tend to improve imports and hinder exports. D) They were formed to mediate global trade disputes. E) They require member countries to establish one currency.
Madhur L.
Contractionary fiscal policy is deliberate government action to influence aggregate demand and the level of real GDP through a. expanding and contracting the money supply. b. encouraging business to expand or contract investment. c. regulating net exports. d. decreasing government spending or increasing taxes.
Jennifer S.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD