Protectionism hurts an economy in which way?
A) Consumers usually pay higher prices for products.
B) Domestic industries become more efficient.
C) Domestic industries become more competitive.
D) It leads to a declining balance of trade.
Correct Answer:
Verified
Q14: A unilateral method of protecting domestic producers
Q15: How does liberalism compare with mercantilism?
A)Liberalism is
Q16: Applying quotas on imports is a policy
Q17: When states specialize in producing the goods
Q18: Proponents believed a positive balance of trade
Q20: Mercantilist practices were seen as essential to
Q21: The largest,and most comprehensive,regional free trade area
Q22: The existence of world markets may reduce
Q23: The _ oversees the world's most important
Q24: The fact that supply and demand do
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