Protectionism Protects Domestic Industries from the Competitive Forces Exerted by Foreign

Q12: A tariff results in a higher:<br>I. consumer

Q13: Trade:<br>A) decreases the number of jobs.<br>B) increases

Q14: Figure: Market Activity with and without Trade

Q15: Use the following to answer questions:<br>Figure: Costs

Q16: International trade is similar to local trade

Q18: Reducing tariffs causes consumer surplus to increase

Q19: World supply of a good _ domestic

Q20: In 1845, French economist Frédéric Bastiat famously

Q21: When the government increases tariffs:<br>A) production switches

Q22: Without trade restrictions the price of tennis