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 overall level 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
Q264: Q265: From an economic perspective, studies of the Q266: The basic difference in the economic effects Q267: "The nation needs to prevent foreign nations Q268: Which is a valid counterargument to the
