Question

The common belief among economists is that it is better to embrace _____________, and then deal with the costs and trade offs with other policy tools, than it is to engage in _______________.

Answer 1

Answer: the gains from trade; protectionism

Step-by-step explanation:

The common belief among economists is that it is better to embrace the gains from trade, and then deal with the costs and trade offs with other policy tools, than it is to engage in protectionism.

Economists believe that when countries engage in trade together, it brings about increase in the world's output, better innovation and better product quality hence, they do not really support protectionism.