Which of the following describes the national security argument for protectionism?
A)Nearly all industries can make some claim to strategic importance so such trade restrictions can get out of hand.
B)Increases in economic surplus outweigh the decreases in consumer surplus that result from protectionism.
C)Some goods should be insulated from foreign competition to ensure an adequate supply of these goods in the event of an international conflict.
D)Private companies (for example,Coca-Cola)should not be forced to reveal their trade secrets to foreign companies.

Question

Quizplus · Accepted Answer

The national security argument for protectionism states that some goods should be insulated from foreign competition to ensure an adequate supply of these goods in the event of an international conflict. This is because in times of war, a country may not be able to rely on other countries for certain goods, which could affect their ability to defend themselves.

Which of the Following Describes the National Security Argument for Protectionism