Which of the following is a valid reason for protecting an industry?
A) The industry is unable to compete with low-wage foreign competitors.
B) Protection penalizes lax environmental standards.
C) Protection keeps richer nations from exploiting the workers of poorer countries.
D) None of the above reasons is a valid reason for protection.

Question

Quizplus · Accepted Answer

Protectionism is generally not considered a valid long-term economic strategy as it can lead to inefficiencies, higher prices for consumers, and retaliation from other countries. The reasons listed are often cited but are not universally accepted as valid economic justifications for protection.

Which of the Following Is a Valid Reason for Protecting