Protectionist policies:
A) restrict the importation of foreign goods and services.
B) shift the supply curves for the protected goods and services to the right in the country imposing the restriction.
C) generally result in increased benefits in the long run in all countries.
D) are no longer advocated by powerful interests.
Ans: A) restrict the importation of foreign goods and services.
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Lula Panagis, a bright new Ph.D. in economics, turned down many job offers because she hopes eventually to receive an offer from one of the top 10 universities. The type of unemployment she is experiencing is
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Which philosopher claimed that the government should aim to maximize the well-being of the worst-off person in society?