Economists Are Generally Opposed to Tariffs or Other Restrictions on Imported

question 159

Multiple Choice

Economists are generally opposed to tariffs or other restrictions on imported goods because of the negative secondary effects they create that more than offset the benefits to employment in the domestic industry. Which of the following could be considered a secondary effect of these trade restrictions?

• A) The price to consumers of the good in question will be higher as a result of the restriction, meaning consumers will be worse off.
• B) As consumers must spend more money to purchase the good, there will be employment losses in other domestic industries as consumers cut back on their spending on other things.
• C) Because there is a link between a country's imports and its exports, less imports from other countries will result in lower domestic employment in export industries.
• D) All of the above.

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Definitions:

Competencies

The skills, knowledge, and abilities that are necessary for the effective performance of a job or task.

Listening Openly

The practice of actively and attentively listening to others without judgment or forming premature conclusions.

Emotional Intelligence

The ability to recognize, understand, and manage one’s own emotions and the emotions of others.

Daniel Goleman

A psychologist known for popularizing the concept of Emotional Intelligence, which emphasizes the importance of self-awareness, self-regulation, motivation, empathy, and social skills.