The United States imports a lot of cars, despite having its own auto industry. Each of the following statements are arguments some people could make for restricting imports of cars into the United States. For each statement, identify the threat to the U.S. industry that the argument is trying to counter, and identify the opportunities that would be given up if the argument wins. SELECT THE CORRECT ANSWER a. “Foreign manufacturers are offloading their cheap cars onto the U.S. market. We should stop this so that consumers have access to higher-quality U.S. cars.” -National security requires that strategically important goods be produced domestically. -Protection can help infant industries develop. -Foreign competition may lead to job losses. -Anti-dumping laws prevent unfair competition. -Trade should not enable foreign firms to skirt U.S. regulations. b. “We must foster the innovation of small car companies, like Tesla. Allowing foreign electric vehicle manufacturers to sell cars in the U.S. will eliminate any chance of creating those cars domestically.” -Foreign competition may lead to job losses. -Anti-dumping laws prevent unfair competition. -National security requires that strategically important goods be produced domestically. -Trade should not enable foreign firms to skirt U.S. regulations. -Protection can help infant industries develop. c. “You should not buy a car from Nissan or BMW! You are putting people here out of a job.” -Foreign competition may lead to job losses. -Anti-dumping laws prevent unfair competition. -National security requires that strategically important goods be produced domestically. -Trade should not enable foreign firms to skirt U.S. regulations. -Protection can help infant industries develop.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The United States imports a lot of cars, despite having its own auto industry. Each of the following statements are arguments some people could make for restricting imports of cars into the United States. For each statement, identify the threat to the U.S. industry that the argument is trying to counter, and identify the opportunities that would be given up if the argument wins.

SELECT THE CORRECT ANSWER

a. “Foreign manufacturers are offloading their cheap cars onto the U.S. market. We should stop this so that consumers have access to higher-quality U.S. cars.”

-National security requires that strategically important goods be produced domestically.

-Protection can help infant industries develop.

-Foreign competition may lead to job losses.

-Anti-dumping laws prevent unfair competition.

-Trade should not enable foreign firms to skirt U.S. regulations.

b. “We must foster the innovation of small car companies, like Tesla. Allowing foreign electric vehicle manufacturers to sell cars in the U.S. will eliminate any chance of creating those cars domestically.”

-Foreign competition may lead to job losses.

-Anti-dumping laws prevent unfair competition.

-National security requires that strategically important goods be produced domestically.

-Trade should not enable foreign firms to skirt U.S. regulations.

-Protection can help infant industries develop.

c. “You should not buy a car from Nissan or BMW! You are putting people here out of a job.”

-Foreign competition may lead to job losses.

-Anti-dumping laws prevent unfair competition.

-National security requires that strategically important goods be produced domestically.

-Trade should not enable foreign firms to skirt U.S. regulations.

-Protection can help infant industries develop.

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