High Transactions Costs Are a Valid Reason for Maintaining Trade

question 13

True/False

High transactions costs are a valid reason for maintaining trade barriers.

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Definitions:

Optimistic

Possessing a hopeful or confident attitude towards the future or the success of something.

Explanatory Style

A way of explaining to ourselves ourrelative lack of control over our environment. An optimistic explanatory style can prevent learned helplessness; a pessimisticexplanatory style spreads helplessness to all facets of life.

Recovery

Recovery is the process of returning to a normal state of health, mind, or strength after experiencing illness, addiction, or trauma.

Learned Helplessness

A state where an individual experiences feelings of being powerless, triggered by traumatic experiences or ongoing inability to achieve success.