One of the Reasons Given for the Imposition of a Protectionist

question 14

Multiple Choice

One of the reasons given for the imposition of a protectionist policy such as a tariff is to

• A) aid other nations in developing their own industries.
• B) increase the welfare of foreign consumers.
• C) increase the welfare of domestic consumers.
• D) protect domestic workers from foreign competition.
• E) slow domestic production.

Understand the role of education and employment in overcoming poverty.

Recognize the global perspective on poverty and compare poverty rates across countries.

Learn about the impact of gender and race on poverty.

Understand the changing dynamics and perceptions regarding poverty and welfare over time.

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Definitions:

Equilibrium

A state in an economy or market where supply equals demand, leading to a stable price.

Pinch Hitter

In baseball, a substitute batter who comes in to bat in place of another player; metaphorically, someone who steps in to handle a situation or task for someone else.

Player Substitutions

The act of replacing one player with another during a game, common in team sports, to adjust strategies or enhance performance.

Specialization

A process in which individuals, organizations, or countries focus on producing a limited range of goods or services, aiming to increase efficiency and expertise.