Choose the statement that is incorrect.
A)Free trade destroys some jobs.
B)Imports create jobs for retailers that sell imported goods and for firms that service those goods.
C)Imports create income in the rest of the world,some of which is spent on Canadian-made goods and services.
D)Free trade brings about a global rationalization of labour.
E)Protection saves jobs at a low cost.

Question

Quizplus · Accepted Answer

Protectionism may save jobs in certain industries in the short term, but it comes at a cost for the wider economy as consumers pay higher prices for goods and services, and domestic industries may become inefficient and uncompetitive. Therefore, protectionism is not a low-cost solution in the long run.

Choose the Statement That Is Incorrect