Which of the following is an infant-industry argument in favor of restrictions on foreign trade?
a. Foreign producers must be stopped from selling their products in this country below cost of production.
b. Domestic workers must be protected from the lower wages paid in foreign countries.
c. The nation's security demands we ensure an adequate domestic supply capacity of certain products.
d. Do unto others as they do unto you.
e. Industries in the early stages of development must be protected from more mature producers.
e
You might also like to view...
The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?
a. The price of slaves would be lower and the wages of free workers would be lower. b. The price of slaves would be higher and the quantity of free workers would be lower. c. The price of slaves would be lower and the wages of free workers would be higher. d. The quantity of slaves would be higher and the quantity of free workers would be higher. e. The quantity of slaves would be lower and the wages of free workers would be lower.
Explain why a merchandise trade deficit created by imports of consumer goods is more troublesome than a merchandise trade deficit created by imports of capital goods