Which of the Following Arguments Is Valid in the Economics

question 151

Multiple Choice

Which of the following arguments is valid in the economics of international trade?

• A) Trade restrictions are good ways to raise a country's employment.
• B) Protectionism increases the well-being of domestic consumers.
• C) Trade restrictions help to reduce child labor in poor countries.
• D) Trade can result in a net job gain in the whole country.

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Definitions:

Level of Competition

Describes the intensity and number of competitors in a market, which can influence pricing, product innovation, and consumer choice.

Profitability

The degree to which a business or activity yields profit or financial gain.

Oligopolists

Firms within a market structure characterized by a small number of large firms controlling the market, often leading to limited competition.

R&D

Stands for Research and Development; it involves activities undertaken by businesses and organizations to innovate and introduce new products or services.