Do you believe that trade restrictions are, in the long term, good or bad for a...
Do you believe that trade restrictions are, in the long term, good or bad for a country's economy and why?
Homework Answers
For the economy as a whole trade restrictions are never going to help in the long run. we know that free trade increases the welfare of a nation even when it reduces the number of jobs in certain sectors as it is able to increase them in some other sectors. When there are trade restrictions efficiency losses to consumers are much greater than the efficiency gains to the government or the domestic producers. In this manner trade restrictions in the long run are economically bad.
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Do you believe that trade restrictions are, in the long term,
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