Some of the answers expected from the candidates were as follows:
Ways by which government can restrict imports
- Total ban on the importation of goods and services.
- Introduction of import license.
- Reduction in amount of foreign exchange available for importers.
- Imposition of tariffs/duties on imported goods etc.
Ways by which government can promote exports
- Introduction of export incentives loans and subsidies.
- Creation of free export processing zones.
- Establishment of export promotion councils by government to assist exporters.
- Government may reduce or remove taxes on export items etc.