A maximum legal price that may be charged for a particular good or service is known as a

Bill is a high-school dropout who lost his job in a fast food restaurant when the economy plunged into a recession. After 8 months, Bill is still looking for work. He is an example of

A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) the natural unemployment rate.

What are the arguments in favor of trade restrictions, and what are the counterarguments? According to most economists, do any of these arguments really justify trade restrictions? Explain