Which of the Following Statements Is Used to Justify Protectionism

question 142

Multiple Choice

Which of the following statements is used to justify protectionism?

• A)Free trade leads to higher prices for imported goods.
• B)Free trade increases employment by protecting domestic firms.
• C)A country should not rely on other countries for goods that are critical to its national defense.
• D)Trade restrictions are not necessary to protect new firms since they can gain experience and become more productive without protection.

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Definitions:

Positive Emotions

Feelings that are generally pleasant and promote well-being, happiness, and fulfillment, such as joy, love, and satisfaction.

Happy Mood

A state of well-being and contentment characterized by positive emotions, which can influence cognition and behavior.

Phineas Gage

An individual known in psychology and neuroscience for surviving a severe brain injury in the 19th century that dramatically changed his personality and behavior.

Iron Bar

A long, solid piece of iron metal, which can be used in various structural, mechanical, or magnetic applications.