What Is One of the Major Shortcomings of Using Tariffs

question 233

Multiple Choice

What is one of the major shortcomings of using tariffs or quotas to "save American jobs"?

• A) Trade barriers protect the development of new technology, but the new technology eliminates jobs.
• B) Import restrictions alter the composition of domestic employment, but they have minimal effect on the overall level of domestic employment.
• C) The volume of trade with other nations is limited to a few industries, so trade restrictions would not increase national employment.
• D) Major American firms have produced many products in other countries and would not hire more domestic labor when trade barriers are imposed.

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Definitions:

Recessive

Describes a genetic trait that is expressed in an organism’s phenotype only when two copies of the gene are present, one from each parent.

Recessive Genes

Genetic traits that require two copies (one from each parent) to be expressed in the offspring. If only one copy is present, the trait will not manifest because it is masked by a dominant gene.

Dominant Genes

These are genes that are expressed over other genes, called recessive genes, in determining certain traits in an organism.

DNA

The molecule that carries genetic instructions for the development, functioning, growth, and reproduction of all known organisms and many viruses.