Multiple Choice
How do high tariffs and other restraints on international trade affect a nation's prosperity?
A) They increase employment and thereby promote the growth of real GDP.
B) They prevent the nation from fully realizing the potential gains from specialization, exchange, and competition.
C) They protect domestic producers and thereby promote economic growth.
D) Both a and c are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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