The economic doctrine that believes the best way to maximize wealth and reduce vulnerability is to actively encourage exports while discouraging imports is known as
A) market-based policy.
B) mercantilism.
C) monetary policy.
D) liberalism.

Question

Quizplus · Accepted Answer

The economic doctrine described in the question is mercantilism. This doctrine dominated economic policy in the 16th to 18th centuries, where countries believed that accumulating precious metals through exports would lead to wealth and power. It emphasized the importance of exporting more goods than importing in order to have a favorable trade balance.

The Economic Doctrine That Believes the Best Way to Maximize