Which of the following probably best explains why trade restrictions are imposed even if the costs to consumers are greater than the benefits to protected industries?
a. Indifference on the government's part to the interests of domestic workers
b. A desire to make other countries suffer
c. Successful lobbying by consumers
d. Successful lobbying by employers and workers
e. The government's preference to safeguard the interest of the producers at the expense of the consumers
d
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The United States has a trade ________ with all its major trading partners and a trade ________ with every region of the world except for Latin America
A) deficit; deficit B) deficit; surplus C) deficit; balance D) surplus; deficit E) surplus; surplus
In the capital-deepening model of economic growth, capital deepening is associated with
a. decreasing labor productivity b. increasing labor productivity c. decreasing capital output ratio d. increasing capital output ratio e. less capital per worker