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During the first month after Eli was hired as a computer technician, he found the work very satisfying and had a positive attitude about the job. After a few months however, Eli found his job satisfaction was lower than it had originally been, although he still felt positively about his job on most days. Which phenomenon explains Eli's experience?
Protection
The practice of shielding a sector of the economy from foreign competition.
General Agreement on Tariffs and Trade
An international treaty aimed at promoting international trade by reducing or eliminating trade barriers such as tariffs and quotas; it was replaced by the World Trade Organization (WTO) in 1995.
Voluntary Export Restraint
A self-imposed limitation by exporting countries on the volume of their exports of a particular good.
Subsidy
A financial contribution granted by a government or another entity to support an industry, business, or individual, usually intended to keep prices low, support an essential service, or encourage activities beneficial to the public interest.
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