Scenario: Konesia Joins the World
Konesia, a former totalitarian economy and pariah state, is taking steps toward a free market economy. The government wants to encourage trade but also wants to find a balance so that local businesses and industries are not harmed.
-Which of the following would be Konesia's least appropriate method to restrict unwanted trade?

Question

Quizplus · Accepted Answer

Reducing tariffs would be the least restrictive method to encourage trade while protecting local businesses. Introducing an administrative delay or imposing a quota would directly restrict trade, and imposing currency controls would limit the ability of foreign businesses to invest in Konesia.