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    Question

    The policy of broad protection to domestic industries,

    direct control over imports and foreign investment and keeping exchange rates high to unrealistic levels is called?
    A Fiscal Policy Correct Answer Incorrect Answer
    B Import Substitution Policy Correct Answer Incorrect Answer
    C Foreign Exchange Rate Management Correct Answer Incorrect Answer
    D External oriented policy Correct Answer Incorrect Answer

    Solution

    The policy of broad protection to domestic industries, direct control over imports and foreign investment and keeping the exchange rates high to unrealistic levels is called import substitution. After the end of the world war, the least developed countries preferred inward policies, under which the import substitution policy was adopted.

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