Inward-oriented policies hold back economic growth because
A) international trade leads to lower domestic employment.
B) they encourage the brain drain.
C) infant industries are unable to compete with the rest of the world.
D) they do not allow a country to take advantage of the gains from trade.

Question

Quizplus · Accepted Answer

Inward-oriented policies limit a country's ability to participate in international trade and take advantage of the gains from trade, which can ultimately hinder economic growth. By not allowing for the import of necessary goods and services, infant industries are unable to gain access to the technology and resources they need to be able to compete with other countries. This can lead to a lack of innovation and competitiveness in the long run. Additionally, international trade can lead to lower prices and greater variety for consumers, and can ultimately lead to greater economic growth through increased demand and job creation.

Inward-Oriented Policies Hold Back Economic Growth Because