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:

Logistics Manager

A professional responsible for overseeing the supply chain operations, ensuring efficient delivery of goods.

Retail Buyer

A professional responsible for selecting and purchasing goods for resale in retail outlets.

Ownership/Organization

Pertains to the legal right to possess something and the structure or arrangement of management and operations within an entity.

Level Of Service

The degree of quality and satisfaction a customer receives from a service provider.