Related to the Economics in Practice on page 679: Satirist Frederic Bastiat's essay arguing for a quota on sunlight in order to protect domestic candle makers suggests that it is pointless to

Question

Quizplus · Accepted Answer

Bastiat's essay is a satirical critique of protectionist policies that aim to shield domestic industries from foreign competition. By absurdly proposing a quota on sunlight - a free resource - to protect domestic candle makers, Bastiat highlights the inefficiency and harm caused by protectionism. The essay argues that industries that cannot compete effectively should not be protected by government intervention but instead should either find ways to become more efficient or exit the market. Therefore, the best choice is B, which correctly identifies Bastiat's argument against protecting industries that cannot compete effectively.

Related to the Economics in Practice on Page 679: Satirist