Continued Tariff Protection for Industries That Have Already Attained All

question 108

Multiple Choice

Continued tariff protection for industries that have already attained all potential economies of scale and possibilities for learning by doing is likely to

• A)increase employment in the protected industries.
• B)reduce average real income for the country's residents.
• C)redistribute income away from the factors used in the protected industries.
• D)decrease prices to consumers of the products produced in the protected industries.
• E)Both A and B are correct.

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Definitions:

Compliance

Compliance involves conforming to a rule, standard, or command, often within societal, legal, or regulatory frameworks.

Obedience

The act of following orders or complying with instructions, typically from an authoritative figure.

Realistic Conflict Theory

A social psychological model that suggests intergroup conflicts, and negative prejudices and stereotypes, arise from competition between groups for limited resources.

Violence

Behavioral actions that involve physical force intended to hurt, damage, or kill someone or something.