According to our text, which of the following typically does NOT happen after a country engages in protectionism? a) the trade deficit worsens b) protected industries face less competition in the short run andcan increase their prices c) employement increases in the long run d) the economy worsens and stock market prices lower
According to our text, which of the following typically does NOT happen after a country engages in protectionism? a) the trade deficit worsens b) protected industries face less competition in the short run andcan increase their prices c) employement increases in the long run d) the economy worsens and stock market prices lower
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![According to our text, which of the following typically
does NOT happen after a country engages in
protectionism?
a) the trade deficit worsens
b) protected industries face less competition in the
short run andcan increase their prices
c) employement increases in the long run
d) the economy worsens and stock market prices
lower](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F761febdd-204f-464f-8d8e-92e421629873%2F5a3df102-0229-496d-b649-cece44da2758%2F7n39ohk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:According to our text, which of the following typically
does NOT happen after a country engages in
protectionism?
a) the trade deficit worsens
b) protected industries face less competition in the
short run andcan increase their prices
c) employement increases in the long run
d) the economy worsens and stock market prices
lower
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