Explain four problems with the argument that trade protection is needed to protect American jobs.

Q: Do you believe that on balance international trade is beneficial or harmful?

A: International trade refers to the exchange of goods, services, and capital between different…

Q: Explain what is meant by trade creation and how does it affect the welfare of a country

A: Trade creation means the economic phenomenon that happens when the establishment of a free trade…

Q: Explain the difference between free trade and protectionism

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: Discuss the role of trade policy in your daily life.

A: Trade refers to the activity in which different countries come together and exchange goods and…

Q: Why would protectionism cost jobs

A: The international trade would result in the exchange of the goods and services between one or more…

Q: Which is better policy? Trade liberalization or trade protectionism? why?

A: Trade refers to the activity where countries exchange goods and services with each other in the form…

Q: What can be regarded as the correct mix between free trade and protectionism

A: In an economy, free trade and protectionism are two opposite concepts or approaches to make economic…

Q: Do you think it is important for the Philippines to join a trade organization? Why or why not?

A: The World Trade Institution (WTO) is the sole international organisation that deals with global…

Q: Protectionism uses tariffs as trade barriers? True or False

A: Protectionism is a policy implemented by the country to restrict the trade with the rest of the…

Q: how do trade agreements affect the US economy?

A: Trade agreements are defined as contractual agreements between states or countries concerning their…

Q: What distinguishes a customs union from a free trade area? What distinguishes a common market from a…

A: Economic integration is the cooperative process through which several countries establish tighter…

Q: If a country closes off to trade and prices remain unchanged, what does that mean?

A: A closed economy refers to one that does not trade with other countries. As a result, the closed…

Q: Trade, tariffs, and protectionism.  Discuss the World Trade Organisation Rules which member…

A: WTO is used by governments to establish, update, and enforce international trade rules. The General…

Q: Define protectionism as a policy and describe what a country stands to lose when it enacts such a…

A: In an economy, protectionism is considered bas one of the government policies to influence the…

Q: When countries do not integrate or join trade organizations, they experience income inequality and…

A: To find : Why companies experience income inequality and low income distribution.

Q: Why might a low-income country put up barriers to trade, such as tariffs on imports?

A: Barriers to trade: These are the restraints imposed by the government on the flow of international…

Q: How does international trade affect working conditions of low-income countries?

A: International trade certainly affects the working conditions of the low-income countries.

Q: Identify and explain the trade barriers that countries used to protect their domestic economy.

A: An economy is a domain that includes the production, distribution, and trading of products and…

Q: Do you think everyone within a country benefits from trade? Why? Why not?

A: When countries lack the ability or resources to meet their own needs and wants, they engage in trade…

Q: What is one of the major shortcomings of using tariffs or quotas to "save American jobs"?

A: A tariff refers to the tax imposed by the government on imported goods from other countries. Tariff…

Q: How do you think trade between the United States and a poorer nation affects the workers in the…

A: International trade is the exchange of goods, services, labour, and other commodities across…

Q: Why protectionist trade policy is better than free trade policy?

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: If a certain trade is good for one country, it must be good for the other country?

A: Trading activities benefit all participants. Trade must occur according to the comparative advantage…

Q: A measure of the importance of trade is: A. Trade as a percentage of employment rate. B. The dollar…

A: GDP It is a monetary indicator of the market worth of each country's manufactured or sold (not…