Final answer:
An increase in consumer income would likely lead to higher trade levels, while the imposition of trade barriers and protectionist policies would result in a greater trade imbalance. Enhancements in technology and innovation generally lead to a higher level of trade.
Step-by-step explanation:
When considering the effect on trade, an increase in consumer income would likely lead to a higher level of trade for an economy. With more disposable income, consumers can spend more on goods and services, increasing demand for both domestic and imported products.
On the other hand, the imposition of trade barriers, such as embargoes, quotas, and tariffs, would likely result in a greater imbalance of trade for an economy. These restrictions limit the flow of goods and can make imports more expensive, impacting the balance between exports and imports.
The enhancement of technology and innovation is more likely to lead to a higher level of trade for an economy. Technological advancements can improve productivity, create new industries, and make goods and services more competitive on the global market.
Lastly, a shift towards protectionist policies, such as import taxes and subsidies for domestic industries, would likely result in a greater imbalance of trade. These policies aim to protect domestic industries but can reduce international trade by making imports more expensive and shrinking export markets.