Import Restrictions Usually Benefit Domestic Producers at the Expense of Domestic

question 160

True/False

Import restrictions usually benefit domestic producers at the expense of domestic consumers.

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Definitions:

Model Business Corporation Act

A set of model laws prepared by the Committee on Corporate Laws of the American Bar Association to provide a standard for state corporation statutes.

American Bar Association

A large voluntary association of attorneys and law students in the United States which aims to improve the legal profession, set academic standards for law schools, and formulate ethical codes for the legal profession.

Interstate Commerce

Economic activity that involves trade, traffic, or transportation across state lines, falling under the regulatory power of the federal government.

Foreign Corporation

A company that is incorporated in one country but conducts business operations in another country where it is considered foreign.