Question

what are the potential global economic consequences of enacting protectionist policies like tariffs? (1 point)
decrease in domestic production
trade wars and retaliatory tariffs between nations
encouragement of international cooperation
stabilization of currency exchange rates

Explanation:

Protectionist policies like tariffs restrict imports, which typically prompts affected nations to impose their own tariffs in retaliation, escalating into trade wars. Domestic production usually increases (not decreases) as local industries are shielded. Such policies hinder, not encourage, international cooperation, and they do not stabilize currency exchange rates, as trade tensions often create volatility.

Answer:

Trade wars and retaliatory tariffs between nations