Protectionism
A) is the use of cheap labor to protect firms from paying high wages.
B) refers to the use of copyright and trademark laws to protect inventors and artists from losing the rights to their creative efforts.
C) is the use of trade barriers to protect domestic firms from foreign competition.
D) refers to reductions in tariffs and other barriers that protect consumers from paying high prices.
C
You might also like to view...
Sheri is currently purchasing 10 units of a normal good and her indifference curves exhibit diminishing marginal rate of substitution. Suppose there is a decrease in the market price of this good. Then
A) both her utility and her consumer surplus will increase. B) her consumer surplus will increase, but her utility will remain the same. C) her utility will increase, but her consumer surplus will remain the same. D) her consumer surplus will increase, but the change in her utility is unknown without more information.
Explain the three categories of balance of payments transactions
What will be an ideal response?