Import Restrictions

question 262

Multiple Choice

Import restrictions

• A) can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole.
• B) can protect United States jobs in the protected industry but will also lead to job reductions in other export industries.
• C) hurt people who work in importing companies, but makes consumers better off.
• D) cannot protect American jobs in any sector of the economy.

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Definitions:

Income Distribution

The way in which a nation’s total GDP is distributed amongst its population, affecting the economic well-being of its citizens.

Official Poverty Line

A threshold set by the government defining the minimum level of income sufficient to cover basic living expenses, used to identify individuals or households in poverty.

Federal Government

The national government of a federal state, which holds the authority over matters that affect the entire country, distinct from state or local governments.

Percentage Point

A unit for measuring the difference between percentages, illustrating how much one percentage is higher or lower than another.