If a nation restricts trade with other nations, then the most likely effect is:
A) Lower prices of goods and services in the nation
B) Increased specialization of production
C) Expanded economic wealth of the nation
D) Make consumers in the nation worse off

Question

Quizplus · Accepted Answer

When a nation restricts trade with other nations, it limits the variety of goods and services available to consumers, which can result in higher prices and lower quality products. This can make consumers worse off because they have fewer options to choose from and must pay higher prices. Additionally, restrictions on trade can limit the flow of foreign investment and technology, which can impede economic growth and development.

If a Nation Restricts Trade with Other Nations, Then the Most