Which of the following arguments might be legitimate reasons for limiting imports? a) Imports destroy jobs in the import-copeting industry so we should protect this industry to save jobs. b) We need to impose tariffs fo stop our industries moving their operations and jobs to lob wage countries c) if the cost of shifting resources from import-competing industries are high enough so that together with the other transaction costs they exceed the gains from trade, we should slow down the imports. d) Low income countries' ability to buy our goods is so much less that our ability to buy theirs, that in order to have balanced trade, we should impose some restrictions of imports from such low income countries. e) Some countries f) Some foreign producers sell below their costs in order to monopolize the market so they can raise prices to monopoly levels and fleece our cosumers, so we should impose restrictions specific to such producers. g) We might want to boycott some countries or specific producers for moral reasons such as their use of slave labor, or violating human rights in other ways.
Which of the following arguments might be legitimate reasons for limiting imports?
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a) Imports destroy jobs in the import-copeting industry so we should protect this industry to save jobs. |
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b) We need to impose tariffs fo stop our industries moving their operations and jobs to lob wage countries |
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c) if the cost of shifting resources from import-competing industries are high enough so that together with the other transaction costs they exceed the |
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d) Low income countries' ability to buy our goods is so much less that our ability to buy theirs, that in order to have |
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e) Some countries |
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f) Some foreign producers sell below their costs in order to monopolize the market so they can raise prices to |
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g) We might want to boycott some countries or specific producers for moral reasons such as their use of slave labor, or violating human rights in other ways. |
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h) We may want to sanction countries by restricting their exports to our country because of their hostile or threatening actions towards us or our allies, such as China's illegal annexation of territory in the South China Sea.
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Import and Export:
When a company sells its commodities in a country other than its domestic country that means the company is exporting the goods and if the goods are purchased from the other country that means goods are being imported.
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Are options b through h correct or incorrect?
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