Question

Outward-oriented policiesa. allow countries to take advantage of gains from trade.b. have generally led to high growth for the countries that pursued them.c. received widespread support from economists.d. All of the above are correct.

Answer 1

Answer:

D) All of the above

• a. allow countries to take advantage of gains from trade.
• b. have generally led to high growth for the countries that pursued them.
• c. received widespread support from economists.

Explanation:

Outward oriented policies are basically national policies that encourage and foster an increase in foreign trade, this includes both an increase in exports and an increase in imports. Of course, the main objective is to increase net exports which result from subtracting imports from exports. But it is very difficult to increase the number of total exports without having to increase the number of total imports, the gain is achieved by exporting more.