Trade Restrictions Tend to Preserve ________ in the Protected Industries

question 36

Multiple Choice

Trade restrictions tend to preserve ________ in the protected industries and lead to ________ in other industries.

• A)almost all jobs;economic growth
• B)well over half of the jobs;price decreases
• C)relatively few jobs;job losses
• D)no jobs;increased productivity

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Definitions:

Economists

Professionals who study how societies use resources such as raw materials, labor, and capital to produce goods and services and distribute them among the population.

Gasoline Prices

The cost per unit of gasoline, which varies depending on factors like crude oil prices, taxes, and demand.

Consumers

Individuals or entities that purchase goods and services for personal use and not for manufacture or resale.

Macroeconomic Analysis

The examination and interpretation of economic trends and policies at the scale of an entire economy, focusing on phenomena like inflation, unemployment, and Gross Domestic Product (GDP).