Protectionism

question 33

Multiple Choice

Protectionism

• A)is the use of cheap labor to protect firms from paying high wages.
• B)is the use of trade barriers to protect domestic firms from foreign competition.
• C)refers to reductions in tariffs and other barriers that protect consumers from paying high prices.
• D)refers to the use of copyright and trademark laws to protect inventors and artists from losing the rights to their creative efforts.

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Definitions:

Categorical

Refers to data or variables that represent categories, such as 'gender' or 'type of car', where the categories do not have a natural order.

Correlation Coefficient

A numerical measure that indicates the extent to which two or more variables fluctuate together.

Independent Variable

An independent variable is the condition or factor that is manipulated by a researcher to observe its effects on the dependent variable.

Dependent Variable

The element in a study that is anticipated to vary as a result of adjustments made to the independent variable.