Multiple Choice
One of the costs of protectionism is:
A) increases in total national output.
B) a reduction in the variety of goods in domestic markets.
C) greater competition.
D) lower opportunity costs of domestic production.
Correct Answer:
Verified
Correct Answer:
Verified
Q61: Protectionism refers to government policies that:<br>A) restrict
Q62: When the world price is below the
Q63: The real cause of child labor is:<br>A)
Q64: The United States is not competitive with
Q65: The benefits of trade include:<br>I. greater productivity
Q67: Suppose a government is facing accusations of
Q68: Use the following to answer questions:<br>Figure: Bananas
Q69: Use the following to answer questions:<br>Figure: Costs
Q70: According to the text, the sugar tariff
Q71: The United States is the only government