Which of the Following Is Not True About Protectionism

question 62

Multiple Choice

Which of the following is not true about protectionism?

• A) It reduces competition.
• B) It may cause friction between nations.
• C) It increases prices to consumers.
• D) Tariffs and quotas protect domestic firms and jobs.
• E) It is a revenue source for the provincial governments in Canada.

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Definitions:

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, that help in making decisions, forming judgments, or solving problems.

System II Strategies

Cognitive processes associated with analytical thinking that are deliberate, controlled, and typically require conscious effort, as opposed to intuitive or automatic System I processes.

Atypical

Atypical refers to something that is not typical or usual; in medical or psychological contexts, it often describes conditions, behaviors, or responses that deviate from the norm.

Prison Guard

An individual responsible for the supervision, safety, and security of prisoners in a jail or prison.