According to most economists, which of the following is a valid reason for protecting an industry?
A) Protection keeps richer nations from exploiting the workers of poorer countries.
B) The industry is unable to compete with low- wage foreign competitors.
C) Protection penalises lax environmental standards.
D) None of the above reasons is a valid reason for protection.
Correct Answer:
Verified
Q108: Which of the following is a reason
Q109: Suppose the world price of a good
Q110: The infant- industry argument is based on
Q111: Using calculations of the cost to Americans
Q112: Q114: A country will export tyres if international Q115: A key difference between tariffs and quotas Q116: Tariffs Q117: A tariff is imposed on a good. Q118: ![]()
A) generate revenue for the government.
B) encourage![]()
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