Chat with AI
Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 32
The Case Against Protection
Trading Up
The cost of protecting jobs in uncompetitive sectors through tariffs is high: Saving a job in the sugar industry costs American consumers $826,000 in higher prices a year; saving a dairy industry job costs $685,000 per year; and saving a job in the manufacturing of women's handbags costs $263,000.
a. What are the arguments for saving the jobs mentioned in this news clip?
b. Explain why these arguments are faulty.
c. Is there any merit to saving these jobs
Trading Up
The cost of protecting jobs in uncompetitive sectors through tariffs is high: Saving a job in the sugar industry costs American consumers $826,000 in higher prices a year; saving a dairy industry job costs $685,000 per year; and saving a job in the manufacturing of women's handbags costs $263,000.
a. What are the arguments for saving the jobs mentioned in this news clip?
b. Explain why these arguments are faulty.
c. Is there any merit to saving these jobs
Explanation
Verified
Verified
(a) The arguments for saving the job men...
Macroeconomics 11th Edition by Michael Parkin
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
