The existence of marginal social benefits which are NOT marginal benefits for the industry producing the import substitutes
A) is an argument supporting the use of market failures as a trade- policy strategy.
B) is an argument rejecting the domestic market failure concept.
C) is an argument rejecting free trade and supporting governmental involvement.
D) is an argument supporting the use of an optimum tariff.
E) is an argument supporting free trade and non- governmental involvement.
Correct Answer:
Verified
Q14: The domestic market failure argument is a
Q15: The fact that trade policy often imposes
Q16: The optimum tariff is most likely to
Q17: Protectionism tends to be concentrated in two
Q18: Export embargoes cause greater losses to consumer
Q20: An issue never confronted effectively by GATT,but
Q21: One of the major issues that arose
Q22: Which organization determines procedures for the settlement
Q23: The World Trade Organization provides for all
Q24: The Smoot- Hawley Tariff Act of 1930
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