Protectionism is usually justified on the basis of one of four arguments. What are those four arguments?

Which group would be most likely to benefit from a binding price floor imposed on wheat?

a. buyers of wheat that are seeking lower prices b. sellers of wheat that are seeking higher prices c. sellers of goods considered complements to wheat, hoping to sell larger quantities of their products d. consumer groups hoping to keep overall food prices low

It is easy to manage cartels in an industry that produces seasonal goods

a. True b. False Indicate whether the statement is true or false