If a Nation Restricts Trade with Other Nations, Then the Most

question 114

Multiple Choice

If a nation restricts trade with other nations, then the most likely effect is

• A) lower prices of goods and services in the nation.
• B) increased specialization of production.
• C) expanded economic wealth of the nation.
• D) consumers in the nation are made worse off.

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Definitions:

Considerable Damage

Significant harm or destruction to property, health, or well-being that is not easily or quickly rectified.

Liability

The state of being responsible for something, especially by law, which can include financial or legal obligations.

General Partner

A full partner with unlimited liability for the debts of the partnership.

Limited Partnership

A partnership consisting of at least one general partner, who manages the business and is personally liable for debts, and one or more limited partners, who invest but do not participate in management.