What is one of the major shortcomings of using tariffs or quotas to "save American jobs"?
A) Trade barriers protect the development of new technology, but the new technology eliminates jobs.
B) Import restrictions alter the composition of domestic employment, but they have minimal effect on the amount of domestic employment.
C) The volume of trade with other nations is limited to a few industries, so trade restrictions would not increase national employment.
D) Major American firms have produced many products in other countries, and would not hire more domestic labor when trade barriers are imposed.
Correct Answer:
Verified
Q15: Answer the next question on the basis
Q16: Answer the next question on the basis
Q17: If an American can purchase 40,000 British
Q18: The Trade Adjustment Assistance Act of 2002:
A)
Q19: Critics of trade adjustment assistance:
A) claim that
Q21: Which is a valid counterargument to the
Q22: Which is a valid counterargument to the
Q23: The Smoot-Hawley Tariff Act:
A) restricts the importation
Q24: Which of the following was not implemented
Q25: Which of the following statements is most
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents