Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Match each anti-trade argument with its counter argument.

1. When we depend on imports to provide necessary products (food, oil etc.) we make ourselves vulnerable to the will of other countries. If they decided to stop selling to us then our economy or society could be critically hurt.

2. In order to develop new industries in an economy, they need to be protected from fierce international competition until they are mature.

3. Trade causes some industries to decline and people in those industries to lo9se their jobs. In order to protect those jobs, trade should be stopped.

A: When engaging in trade, the countries involved become interdependent, and therefore are less likely to allow themselves to fall into conflict and cut off trade

B: Once an industry is protected by tariffs or subsidies, it becomes politically difficult to remove those protections, and the protected industry can become an inefficient drag on the economy.

C: Trade causes the most efficient industries to grow, and others to shrink. Once this happens the economy will be more dynamic, but stopping this process we are settling for a less efficient, less dynamic economy.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91928366

Have any Question?


Related Questions in Business Economics

Tests can determine with some degree of accuracy whether a

Tests can determine, with some degree of accuracy, whether a subject indeed has the disease for which s/he is being tested. For instance, a new screening procedure for heart disease was tested on 100 patients with heart ...

You are given the sample mean and the population standard

You are given the sample mean and the population standard deviation.  Use this information to construct the 90% and 95% confidence intervals for the population mean.  A random sample of 44 gas grills has a mean price of ...

Explain a situation using the supply and demand for skilled

Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...

Describe a study you might conduct in which it would be

Describe a study you might conduct in which it would be appropriate to compute a Pearson r(i.e., a study with one group of participants with two scores per participant). Predict if you perceive that the r-value would be ...

Suppose the cross-price elasticity of demand between goods

Suppose the cross-price elasticity of demand between goods X and Y is -4. How much would the price of good Y have to change in order to change the consumption of good X by 10 percent?

Consider a banking model with delegated monitoring markets

Consider a banking model with delegated monitoring. Markets are perfectly competitive. There is a large number of borrowers who lack the funds and a large number of lenders who have the funds. Each lender has 10 goods to ...

Why would the communities in the territories not be listed

Why would the communities in the territories not be listed for government transfer payments? Why do cities and towns get government transfer income?

Suppose demand is given by the equation qd 80p using the

Suppose demand is given by the equation: QD = 80/P Using the midpoint method, what is the price elasticity of demand between $2 and $4?

Question consider an exchange economy with two prominent

Question: Consider an exchange economy with two prominent leaders: Romney and Bernanke. Each get utility from destroying jobs, J; and from power, P. Their utility functions are: URomney = ln(P) + 2 ln(J) UBernanke = 2ln( ...

How to determine the points for graphically representing

How to determine the points for graphically representing the equilibrium(600000) which was derived from the equation, D=1500000-60000W, S= 120000W-1200000, with wage rate being $15 per hour at equilibrium.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As