A policy that attempts to stimulate development of local industry by discouraging imports through tariffs and nontariff barriers is called ________.
A) export substitution
B) import substitution
C) development stimulation
D) protectionism
Answer: B
A policy that attempts to stimulate development of local industry by discouraging imports through tariffs and nontariff barriers is called ________.
A) export substitution
B) import substitution
C) development stimulation
D) protectionism