Some people argue that protection discourages dependency. Explain this argument
What will be an ideal response?
The argument is that small or developing countries may come to rely too heavily on one or more trading partners for many items. Doing something may make it difficult for the smaller nation to remain politically neutral. Some even argue that superpowers consciously engage in trade with smaller countries to create these dependencies.
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In the Classical interest theory, saving and investment determine
A) the price level. B) unemployment. C) the money supply. D) interest rates.
A curve that shows the cost to the firm of hiring an additional unit of a resource is known as a
a. marginal product curve b. marginal revenue product curve c. total revenue product curve d. marginal revenue curve e. marginal resource cost curve