Match each argument for protectionism with the best counter-argument. Protectionism helps new industries develop. Protectionism prevents firms from strategically dumping goods to monopolize the market. Trade creates more jobs than it destroys, i.e., free trade leads to net job creation. Protectionism saves jobs. Answer Bank Many companies have succeeded without protectionist policies. Trade leads to higher wages and opens up more opportunities for individuals in less developed nations. It is often difficult to distinguish between predatory pricing and legal pricing strategies. Protectionism prevents the exploitation of foreign workers who are underpaid.

Match each argument for protectionism with the best counter-argument. Protectionism helps new industries develop. Protectionism prevents firms from strategically dumping goods to monopolize the market. Trade creates more jobs than it destroys, i.e., free trade leads to net job creation. Protectionism saves jobs. Answer Bank Many companies have succeeded without protectionist policies. Trade leads to higher wages and opens up more opportunities for individuals in less developed nations. It is often difficult to distinguish between predatory pricing and legal pricing strategies. Protectionism prevents the exploitation of foreign workers who are underpaid.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 53CTQ: Economists sometimes say that protectionism is the second-best choice for dealing with any...

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Question

Match each argument for protectionism with the best counter-argument.
Protectionism helps new
industries develop.
Protectionism prevents firms
from strategically dumping
goods to monopolize
the market.
Trade creates more jobs than it destroys, i.e., free trade leads to net job creation.
Protectionism saves jobs.
Answer Bank
Many companies have succeeded without protectionist policies.
Trade leads to higher wages and opens up more opportunities for individuals in less developed nations.
It is often difficult to distinguish between predatory pricing and legal pricing strategies.
Protectionism prevents the
exploitation of foreign
workers who are underpaid.

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