Multiple Choice
Which of the following statements is used to justify protectionism?
A) Free trade leads to higher prices for imported goods.
B) Free trade increases employment by protecting domestic firms.
C) A country should not rely on other countries for goods that are critical to its national defence.
D) Trade restrictions are not necessary to protect new firms since they can gain experience and become more productive without protection.
Correct Answer:
Verified
Correct Answer:
Verified
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