Activity 3: Formative Assessment

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1. Which of the following is a harmful result of protectionism?
   1. protection of workers' jobs
   2. protection of "infant industries"
   3. protection of inefficient industries
   4. protection of national security
2. Which of these trade organizations appeared first in the global marketplace?
   1. the European Union
   2. the World Trade Organization
   3. the Mercosur Agreement
   4. the Nafta Agreement
3. Which of the following is NOT a negative effect of trade barriers?
   1. supply is limited
   2. increased prices for foreign goods
   3. trade wars
   4. demand increases for domestic goods
4. Create a scenario in which protecting or failing to protect a particular domestic industry could impact national security.