Protection in the form of tariffs or quotas is a very inefficient tool for job creation and preservation.

Question

Quizplus · Accepted Answer

Tariffs and quotas can lead to higher prices for consumers, reduced competition, and potentially retaliation from other countries. They may create some jobs in the industries that benefit from the protection, but at the expense of other industries and ultimately the overall economy. There are more efficient and effective ways to promote job creation and preservation, such as investing in education and training, promoting research and development, and supporting small businesses.

Protection in the Form of Tariffs or Quotas Is a Very