A program of protection that results in preserving jobs in certain industries

a. raises average productivity in all sectors of the economy.
b. does so at very high cost to consumers of the products from those industries.
c. is an efficient way to preserve employment, and is cheaper than other forms of maintaining full employment.
d. is an effective way of encouraging innovation and improvement in production.


b

Economics

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What will be an ideal response?

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Indicate whether the statement is true or false

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Refer to the following graph.With a tariff of $10 a blouse on imported silk blouses from China, the revenue the government would collect from the import of silk blouses from China would be:

A. $20,000. B. $2,800. C. $7,000. D. $0.

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Economics