Business, 28.07.2019 05:00 linshweyioo5442

Which is an example of protectionist trade policy? a) tariffs b) unions c) sales taxes d) the minimum wage

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Answer from: kaayla20

Which is an example of protectionist trade policy? A. Tariffs

The most common types of protectionism measures are tariffs, import quatos and subsidies to local producers. Since tariffs are one of the most common examples, they are the best choice for this question. The protectionist trade policy includes government policies that restrict free trade between countries. While monitoring the trade, they are doing their best to protect local industries and jobs from foreign competition that is unfair.

Answer from: naz731

The option A is correct. The example of protectionist trade policy is tariffs.

Further explanation:

Tariffs are imposed by the government in order to restrict the import and export from the country. They are used to protect or encourage the domestic economy.

Justification for the correct and incorrect

Tariffs:This option is correct.

Tariffs are imposed by the government Option restrict the import and export from the country. They are used to protect or encourage the domestic economy.

Unions:This option is incorrect.

The unions are an association of people formed in order to promote the interest of a particular group of people. They do not come under trade policy.

Sales taxes:This option is incorrect.

The taxes are imposed on the sale of goods from one state to another or interstate sale are known as sales taxes. They are not imposed to restrict trade.

The minimum wage:This option is incorrect .

The minimum wage refers to the minimum rate at which wages will be paid to the worker. The minimum wage rate is set in order to safeguard the interest of the worker.

Therefore, option A is correct.

Learn more:

1. Learn more about the tax on the profit from selling the fixed assets

2. Learn more about the personal tax

3. Learn more about the role of money

Answer details:

Grade: High School

Subject: Economics

Chapter: Trade policy

Keywords: An example of protectionist trade policy, tariffs, unions, sales taxes, the minimum wage, trade policy.

Answer from: Quest

Ok i a

Answer from: Quest

The law of supply and demand

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Which is an example of protectionist trade policy? a) tariffs b) unions c) sales taxes d) the min...

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