One Reason Trade Restrictions Exist Is That

question 14

Multiple Choice

One reason trade restrictions exist is that:

• A) workers can be shifted easily from one industry to another.
• B) workers cannot be shifted easily from one industry to another.
• C) the long-run gains from free trade are small relative to the short-run costs.
• D) the short-run gains from free trade are small relative to the long-run costs.

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Definitions:

Allowance Factor

A factor used in planning and estimation to account for potential deviations from standard conditions or expected performance.

Normal Time

The amount of time typically required to complete a process or task under normal conditions, often used in planning and scheduling.

Standard Time

The established timeframe set to complete a specific task or process under normal conditions.

Labour Standards

The established amount of time required to perform a task, based on measurements of work performance, used for planning and payroll purposes.