Protectionism and Prices

"I hope you had a hell of a piss, Arnold!"
--Brad Hamilton (Fast Times at Ridgemont High)

One of the many consequences of protectionism, whether it be in the form of tariffs, minimum wage laws, etc, is higher prices.

Confused as to why? Using tariffs as an example, complete the following quiz. As trade barriers go up,

Specialization of work inside a country goes a) up b) down.

Diversification of work inside a country goes a) up b) down.

Potential to learn by doing goes a) up b) down.

Cost of switching between tasks goes a) up b) down

Consequently, productivity of work inside a country goes a) up b) down.

Competition goes a) up b) down.

It doesn't take a PhD to sum up the impact on prices and, consequently, standard of living.