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.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter18: Trading With Other Nations

Section18.3: Restrictions On World Trade

Problem 4R

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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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