How Do High Tariffs and Other Restraints on International Trade

question 52

Multiple Choice

How do high tariffs and other restraints on international trade affect a nation's prosperity?

• A) They increase employment and thereby promote the growth of GDP.
• B) They prevent a nation from fully realizing the potential gains from specialization, exchange, and competition.
• C) They protect domestic producers and thereby promote economic growth.
• D) Both a and c are correct.

---

Definitions:

Open-Ended

relates to questions or situations that do not have a definitive answer or conclusion, allowing for a wide range of responses or outcomes.

Items

Items refer to individual things or units, especially as part of a list, collection, or inventory, covering a wide range of tangible and intangible objects.

Multiple Answers

Situations or questions that allow for more than one correct or suitable response.

Bibliography

A list of books and/or other materials consulted or cited in the preparation of a work.