Asked by Kristen Salcedo on Jun 15, 2024
Verified
Which is not a commonly heard argument for protectionism?
A) A strong national defense requires that some military products be produced domestically.
B) Infant industries need short-term protection from foreign competition in order to grow.
C) Specialization along the lines of comparative advantage can lead to some economic instability in a nation.
D) When other nations' economies grow, they typically import fewer goods and services.
Comparative Advantage
An economic theory that describes how entities can gain and benefit from trade if they produce goods and services at a lower opportunity cost than their trade partners.
National Defense
Governmental and military activities aimed at protecting the country and its citizens from external threats and maintaining territorial integrity.
Infant Industries
New or emerging industries in their early stages that may be protected by the government through subsidies or tariffs to help them grow.
- Study the development and current implementation of tariffs, quotas, and different protectionist methods, and their influence on the international trading landscape.
- Appraise the economic grounds advocating for and disputing protectionism, including the rationale for infant industry protection and domestic job retention.
Verified Answer
Learning Objectives
- Study the development and current implementation of tariffs, quotas, and different protectionist methods, and their influence on the international trading landscape.
- Appraise the economic grounds advocating for and disputing protectionism, including the rationale for infant industry protection and domestic job retention.
Related questions
Which of the Following Is a Valid Counterargument to a ...
The Following Are Commonly Used Arguments for Protection Against Imports ...
Which of the Following Is a Valid Counterargument to the ...
From an Economic Perspective, Studies of the Costs of Trade ...
Common Arguments Often Raised to Present the Case for Protectionism ...