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:

Trusts

Legal arrangements where one party holds property for the benefit of another, also used in monopolistic business contexts to refer to large corporations that exert significant control over a market.

Will

A legal document in which a person specifies the method to be applied in the management and distribution of their estate after death.

Intestate

A legal term describing the status of an individual who dies without a valid will, leading to their estate being distributed according to statutory laws.

Heirs

Individuals legally entitled to receive a portion of a deceased person's estate according to the law or the will of the deceased.