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In 1994, President Bill Clinton gave an example of the criticism of the General Agreement on Tariffs and Trade (GATT). The idea is that since we live in a global economy and there are people in other places who can work for wages we can’t live on, if we open our markets to them, they will displace our workers . . . |
Which result would policies addressing this criticism and the protectionist policies in place before the Great Depression most likely have in common?
Responses
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Political instability causes trade imbalances.
Political instability causes trade imbalances. -
Trade restrictions limit the growth of economies.
Trade restrictions limit the growth of economies. -
Political instability decreases trade activity.
Political instability decreases trade activity. -
Trade restrictions reduce demand for consumer goods.
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