Trade Restrictions Tend to Preserve ________ in the Protected Industries

question 36

Multiple Choice

Trade restrictions tend to preserve ________ in the protected industries and lead to ________ in other industries.

• A)almost all jobs;economic growth
• B)well over half of the jobs;price decreases
• C)relatively few jobs;job losses
• D)no jobs;increased productivity

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Definitions:

Labour Cost

Represents the total expense incurred by employers for the wages, benefits, and taxes associated with their workforce.

Extra Workers

Employees hired in addition to the regular workforce to handle additional demand, seasonal peaks, or special projects.

Frederick W. Taylor

An American mechanical engineer who is regarded as the father of scientific management, aiming to improve economic efficiency and labor productivity.

Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.