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11 May, 02:28

When a government limits imports via tariffs and quotas and subsidizes exports in order to maximize exports and minimize imports, the country is following A. A mercantilist philosophy B. The theory of absolute advantage C. The theory of comparative advantage D. The Heckscher-Ohlin theory

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  1. 11 May, 03:05
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    The correct answer is letter "A": A mercantilist philosophy.

    Explanation:

    The mercantilist philosophy is the economic approach whereby governments control their economies to reduce imports and maximize exports. It is believed that by taking such a measure, the wealth of the nation would increase as a result of the surplus in the balance of trade of the country. The trade balance is calculated by subtracting imports from exports.
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Home » Business » When a government limits imports via tariffs and quotas and subsidizes exports in order to maximize exports and minimize imports, the country is following A. A mercantilist philosophy B. The theory of absolute advantage C.
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