Senator Blowhard Represents a State in Which Many Textile Firms

question 263

Multiple Choice

Senator Blowhard represents a state in which many textile firms are located.He wants to impose tariffs on all imported textiles.Which of the following is the least likely consequence of such tariffs?

• A) Domestic textile buyers will lose consumer surplus,have less variety,and will pay higher prices.
• B) Domestic textile sellers will gain producer surplus.
• C) Domestic textile sellers will have a higher rate of technological advance.
• D) Domestic textile sellers will have more market power.

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Definitions:

Denial

A psychological defense mechanism involving refusal to accept reality or facts, thus avoiding a painful or uncomfortable truth.

Projection

A defense mechanism where an individual ascribes their own unwanted thoughts, feelings, or motivations to someone else.

Defense Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety and internal conflict by denying or distorting reality.

Stress

A physical or mental response to external pressures or threats, which can affect an individual's health and well-being.