Asked by Jennifer Knott on Jun 12, 2024
Verified
Which of the following is not a commonly-advanced argument for trade restrictions?
A) The jobs argument
B) The national-security argument
C) The infant-industry argument
D) The efficiency argument
Trade Restrictions
Measures imposed by governments to control the import and export of goods and services with the intention of protecting domestic industries, which can include tariffs, quotas, and other barriers.
Efficiency Argument
The principle that resources should be allocated in a way that maximizes the productivity or welfare of a community or economy.
Jobs Argument
A perspective or argument centered on the impacts of economic policies or business decisions on employment levels.
- Identify the common arguments for and against trade restrictions.
- Differentiate between various arguments made for trade restrictions and their validity.
Verified Answer
AJ
Ashlyn JosaphatJun 12, 2024
Final Answer :
D
Explanation :
The efficiency argument is not commonly advanced for trade restrictions. Instead, it is often used to argue against trade restrictions, suggesting that free trade increases overall economic efficiency by allowing countries to specialize in the production of goods and services in which they have a comparative advantage.
Learning Objectives
- Identify the common arguments for and against trade restrictions.
- Differentiate between various arguments made for trade restrictions and their validity.