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The Estimated Cost of Automobile Jobs Saved Due to Limitations

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Essay

The estimated cost of automobile jobs saved due to limitations on foreign autos is $105,000 per job.Why is there a cost to saving jobs through protectionism?


Definitions:

Price Difference

The variation in cost between two goods, services, or markets, often influenced by factors like quality, supply, and demand.

Minimum Wage

The lowest legal wage that can be paid to most workers, intended to protect workers from unfairly low pay.

CPI

The Consumer Price Index is a gauge that assesses the combined average cost of a variety of essential consumer items and services like healthcare, food, and transport, factoring in their weighted value.

Producer Price Index

Measure of the aggregate price level for intermediate products and wholesale goods.

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