The nation of Gren recently began privatization efforts; however, as a way to protect newly privatized firms, the government imposed strong tariffs on imports from foreign competitors. This has resulted in little competition for these newly privatized firms and essentially created
A) state monopolies.
B) few barriers to trade.
C) a mini-multinational.
D) a democratic regime.
E) a totalitarian state.

Question

Quizplus · Accepted Answer

The imposition of strong tariffs on imports to protect newly privatized firms has resulted in little competition, effectively creating state monopolies where these firms dominate the market without foreign competition.

The Nation of Gren Recently Began Privatization Efforts; However, as a Way