Consider the Following Statement: "With Unemployment at Its Highest Level

question 88

Multiple Choice

Consider the following statement: "With unemployment at its highest level in years,Canada needs to protect domestic jobs by promoting a "Buy Canadian" policy." This statement is ________ because ________.

• A)incorrect; it confuses the real and nominal gains from trade
• B)incorrect; it fails to recognize that imports of foreign goods also help to encourage the export of domestic goods
• C)correct; it recognizes that such a policy can sustain high levels of domestic employment
• D)correct; a "Buy Canadian" policy will take advantage of Canada's comparative advantage
• E)incorrect; it will work against Canada's pattern of absolute advantage

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Definitions:

Gray Matter

A major component of the central nervous system, consisting of neuronal cell bodies, dendrites, and unmyelinated axons, associated with processing and cognition.

Cerebral Cortex

The outer layer of the cerebrum, involved in complex brain functions like memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Critical Thinking

The process of objectively analyzing and evaluating an issue in order to form a judgment.

Frontal Lobes

The front portion of the brain involved in decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.