Utilitarianism is the belief in a completely equal distribution of income for all people

Which of the following monetary policies could reduce the amplitude of oscillations of output around its natural level?

A) raising interest rates before actual output attains its natural level B) lowering interest rates when an economy is still overheated C) lowering interest rates when output is above its natural level D) all of the above.

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