Import restrictions can protect jobs in the industries they aim to shield from foreign competition. However, by making imported goods more expensive, they can also lead to retaliatory measures from other countries or increase costs for industries that rely on imported materials, potentially leading to job losses in those sectors.

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Import Restrictions

Question 48

Multiple Choice

Import restrictions

A) can protect Canadian jobs in the protected industry,which increases economic welfare of the country as a whole.
B) can protect Canadian in the protected industry but will also lead to job reductions in other export industries.
C) hurt people who work in importing companies,but makes consumers better off.
D) cannot protect Canadian jobs in any sector of the economy.

Correct Answer: