Asked by Johnathan Brock on May 12, 2024
Verified
Common arguments often raised to present the case for protectionism include the following, except
A) protecting infant industries until they mature.
B) protection against foreign suppliers' dumping.
C) raising domestic employment in specific industries.
D) reducing the price of the product to consumers.
Protectionism
Economic policy of restricting imports from other countries through methods such as tariffs and quotas, intended to protect domestic industries from foreign competition.
Infant Industries
New or emerging industries in a country that are protected by the government through subsidies or tariffs to promote growth.
Foreign Suppliers' Dumping
The practice where a company exports a product at a price lower than the price it normally charges in its own home market, often with the intention to undercut local markets or gain market share.
- Inspect the historical and modern use of tariffs, quotas, and other protectionist actions, and their consequences on the global trade environment.
- Evaluate the fiscal arguments in favor of and against protectionist tactics, such as the bolstering of emerging industries and the conservation of domestic employment.
Verified Answer
Learning Objectives
- Inspect the historical and modern use of tariffs, quotas, and other protectionist actions, and their consequences on the global trade environment.
- Evaluate the fiscal arguments in favor of and against protectionist tactics, such as the bolstering of emerging industries and the conservation of domestic employment.
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