What Mechanisms Have National Governments Used to Protect Their Economies

question 377

Multiple Choice

What mechanisms have national governments used to protect their economies and industries from foreign competition?

• A) tariffs and import quotas
• B) free trade blocs
• C) increasing the value of their currency
• D) antitrust laws

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Definitions:

Arbitration

A method of resolving disputes outside the courts, where a neutral third party (the arbitrator) renders a decision after hearing arguments and evidence from both sides.

Unfair Labor Practice Strike

A strike undertaken by workers to protest actions by the employer that are considered illegal or unjust under labor laws.

Jurisdictional Strike

A strike action initiated by workers to contest the assignment of work tasks based on the boundaries of union agreements or trades.

Recognition Strike

A labor action taken by workers to gain acknowledgment from their employer regarding the legitimacy of their union or bargaining unit.