All of the following are true of protectionism EXCEPT:
A. industries must be shielded from foreign competition.
B. large trade deficits of the United States must be reduced.
C. maximum gain on a worldwide basis will be realized if capital flows are unrestricted.
D. trade barriers in foreign countries restrict American imports to them.
Answer: C. maximum gain on a worldwide basis will be realized if capital flows are unrestricted.
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