If a small country is protecting its industry that might mean that:
A) tariffs are necessary because otherwise wages in the small country will be very low.
B) tariffs are necessary to protect employment in the small country.
C) workers in other countries are more productive than workers in the small country.
D) it is too small to be able to achieve economies of scale in this industry.
Correct Answer:
Verified
Q50: Free trade can be strongly opposed because:
A)
Q51: The infant industry argument is based on:
A)
Q52: Which of the following are problems with
Q53: Trade restrictions imposed in the name of
Q54: The national security argument for tariff protection
Q56: A country should reduce its barriers to
Q57: 'More productive workers receive higher wages than
Q58: It is argued that strategic trade may
Q59: Using tariffs to trade only with some
Q60: Strategic trade suggests that governments should:
A) play
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents