Economics · Trade Liberalization
Which of the following statements are correct regarding the trade liberalization measures undertaken during the economic reforms? I. The reforms involved the reduction of import tariffs and the removal of quantitative restrictions. II. Trade policy transitioned towards establishing a more market-determined exchange rate. III. Quantitative restrictions were deliberately increased to strictly limit the quantity of imported goods. IV. The measures restricted export promotion to prioritize domestic self-reliance. Choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I and III Only
- 2II, III and IV Only
- 3I and II Only✓
- 4I, II and IV Only
Correct answer
I and II Only
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