Trade restrictions
A)Reduce the gains from trade for the country as a whole.
B)Increase the gains from trade for poor countries.
C)Reduce the number of hours employees must work.
D)Increase the standard of living for the country as a whole.

Question

Quizplus · Accepted Answer

Trade restrictions, such as tariffs or quotas, inhibit trade and limit the variety of goods available to consumers, which reduces gains from trade for the country as a whole. This can also lead to retaliatory measures by trading partners, further reducing the gains from trade.

Trade Restrictions