How does liberalism compare with mercantilism?
A) Liberalism is not concerned with whether one state gains more or less than another,just whether the state's wealth is increasing in absolute terms,whereas mercantilism emphasizes that each state must protect its own interests at the expense of others.
B) Liberalism emphasizes conflicting interests in economic exchanges,whereas mercantilism emphasizes shared interests.
C) Liberalism asserts that the most important goal of economic policy is the creation of the most favorable possible distribution of wealth,whereas mercantilism asserts that the most important goal is the maximum creation of total wealth.
D) Liberalism advocates a role for politics in market processes,whereas mercantilism advocates for market processes to be relatively unhindered by political elements.
Correct Answer:
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Q11: The mercantilist approach to trade is similar
Q12: The balance of trade is the value
Q13: Which policy would be followed by a
Q14: A unilateral method of protecting domestic producers
Q16: Applying quotas on imports is a policy
Q17: When states specialize in producing the goods
Q18: Proponents believed a positive balance of trade
Q19: Protectionism hurts an economy in which way?
A)Consumers
Q20: Mercantilist practices were seen as essential to
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