One of the costs of protectionism is:
A) increases in total national output.
B) a reduction in the variety of goods in domestic markets.
C) greater competition.
D) lower opportunity costs of domestic production.

Question

Quizplus · Accepted Answer

Protectionism often involves tariffs, quotas, and other barriers to imports. This can reduce the variety of goods available in domestic markets, as foreign producers may be unable or unwilling to pay the additional costs associated with exporting their goods to that market.

One of the Costs of Protectionism Is