Neomercantilism describes the approach of countries that try to run a favorable balance of trade to ________.
A)build up gold reserves
B)achieve a social or political objective
C)lower their rates of inflation
D)buy raw materials more cheaply

Question

Quizplus · Accepted Answer

Neomercantilism is an economic policy aimed at achieving social or political objectives, rather than solely focusing on economic gains. The policy is centered on protecting domestic industries from foreign competition and promoting exports in order to achieve a favorable balance of trade. This approach is often used by countries that seek to promote self-sufficiency and reduce dependence on foreign goods or resources.

Neomercantilism Describes the Approach of Countries That Try to Run