A program of protection that results in preserving jobs in certain industries
A)maintains full employment at lower cost than any other program or policy.
B)lowers average pay in the protected industries.
C)improves living standards for the average person in that country.
D)often does so at a cost that is much higher than the average income of persons in those industries.

Question

Quizplus · Accepted Answer

Protectionism, which includes protection of certain industries, often involves implementing tariffs and trade barriers that can increase the cost of imports and reduce competition. This can result in higher prices for consumers and can lead to inefficiencies in the protected industry, as they may not have the same incentive to innovate and improve their products. Additionally, protectionism can lead to retaliation from other countries, reducing demand for that country's exports and potentially leading to job losses in other industries. All of these factors can result in a cost to the economy that is higher than the benefit of preserving jobs in the protected industry.

A Program of Protection That Results in Preserving Jobs in Certain