Which of the following are problems with the employment argument for tariff protection?

Question

Quizplus · Accepted Answer

The employment argument for tariff protection suggests that tariffs protect domestic jobs by reducing competition from foreign firms. However, tariffs can also lead to reduced demand by consumers, which can result in higher unemployment in particular industries. Therefore, option D is a problem with the employment argument for tariff protection. Option A is incorrect because the employment argument is supposed to protect domestic jobs, not foreign jobs. Option B is partially correct because tariffs can raise costs for firms, but this can lead to reduced output and hence lower employment. Option C is not a problem with the employment argument, but rather a challenge faced by developed countries when trying to compete with low-wage nations.

Which of the Following Are Problems with the Employment Argument