Which of the following arguments regarding the need for protectionism is recognized by economists as valid?
A) Need to keep money at home.
B) Encouragement of capital accumulation.
C) Protection of an infant industry.
D) Conservation of natural resources.
E) Maintenance of employment and reduction of unemployment.

Question

Quizplus · Accepted Answer

Countless reasons to maintain government restrictions on trade are espoused by protectionists. Economists in general recognize as valid only the arguments regarding infant industry, national defense, and industrialization of underdeveloped countries.

Which of the Following Arguments Regarding the Need for Protectionism