The argument that protection increases total employment is true because domestic
ID: 1121062 • Letter: T
Question
The argument that protection increases total employment is true because domestic producers would have to decrease employment if imports force them out of the market. is true because foreign producers hire workers at lower wages. is true because we then keep the products and the payments for the products in the domestic market. is false because a rise in employment and output in protected industries can only come at the cost of efficient production in other industries. Which of the following is NOT a major principle of the World Trade Organization? Countries should deposit money at the World Bank during periods of economic expansion and should withdraw money from the Bank during periods of economic recession. Countries should not encourage exports in an unfair way. Countries should adhere to the most-favored nation principle. Countries should move towards trade liberalization. Which of the following was not negotiated under the Uruguay Round? reduction of tariffs on industrial goods replacement of quotas with tariffs reduction of subsidies on industrial products and on agricultural exports liberalization in trade in most servicesExplanation / Answer
Question 1. The argument that protection increases total employment is false because a rise in employment and output in protected industries can only come at the cost of efficient production in new industries.
Question 2. Which of the following is NOT a major principle of the World Trade Organization?
Answer: Countries should deposit money at the World Bank during periods of economic expansion and should withdraw money from the Bank during periods of economic recession.
Question 3. Which of the following was not negotiated under the Uruguay Round?
Answer: Liberalization in trade in most services.
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