Protectionism

question 111

Multiple Choice

Protectionism

• A)is the use of cheap labour to protect firms from paying high wages.
• B)is the use of trade barriers to protect domestic firms from foreign competition.
• C)refers to reductions in tariffs and other barriers that protect consumers from paying high prices.
• D)refers to the use of copyright and trademark laws to protect inventors and artists from losing the rights to their creative efforts.

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Definitions:

Willing

Ready, inclined, or favorably disposed toward taking a particular action or supporting a particular stance.

Valid Gift

A legally recognized transfer of property or assets from one individual to another without the expectation of payment or compensation.

Real Property

Real estate comprising the ground and any structures or natural features permanently affixed, such as homes and foliage.

Properly Executed Deed

A legal document that has been completed correctly, meeting all necessary formalities to transfer ownership of property.