Suppose you are an economist advising the Canadian government as to whether to erect trade barriers for the protection of Canada's textile industry.You are likely to study the gains to be realized in this industry and weigh those against

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As an economist, the cost in terms of higher prices to Canadian consumers should be a top consideration when advising the Canadian government on erecting trade barriers. While protecting the textile industry may bring gains to that specific sector, the overall impact on Canadian consumers should not be overlooked. Trade barriers could result in higher prices for textiles, which could lead to a decrease in consumer spending and potentially harm the overall economy. Therefore, the potential cost to Canadian consumers should be carefully analyzed and weighed against any potential gains in the textile industry.

Suppose You Are an Economist Advising the Canadian Government as to Whether