According to Empirical Observations,the Cost of Restricting International Trade in the U.S.is

question 57

Multiple Choice

According to empirical observations,the cost of restricting international trade in the U.S.is much greater than the benefits generated from restriction.In the light of the above observation,which of the following statements is true?

• A)The benefits of protecting domestic jobs typically outweigh the costs.
• B)Consumers end up paying much more for the goods they buy in order to subsidize the relatively inefficient domestic producer.
• C)U.S.GDP would be over $14 billion higher with import restrictions than without restrictions.
• D)Protection of the U.S.textile and sugar industries means that all consumers pay a lower price for clothing and sugar.
• E)Protection of the domestic industries enable the producers to charge lower prices for their products.

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Definitions:

Intensive Care Unit

A specialized hospital department equipped to provide intensive treatment and monitoring for critically ill or injured patients.

Furosemide (Lasix)

A diuretic medication commonly used to treat fluid build-up due to heart failure, liver scarring, or kidney disease by increasing urine production.

Diuresis

The increased production and passage of urine, often induced by certain medications or conditions, leading to the removal of excess fluids from the body.

Clarification

The process of making a statement or situation less confused and more clearly comprehensible.