Author Question: What is the argument against protectionism? In a short essay, describe the negative effects to the ... (Read 60 times)

tatyanajohnson · **on:** Jul 7, 2018

What is the argument against protectionism? In a short essay, describe the negative effects to the economy when a government intervenes in international trade.

What will be an ideal response?

Question 2

A total selection program has the goal of selecting candidates whose totality of attributes best fits the employer's requirements.

Indicate whether this statement is true or false.

skipfourms123 · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

Critics counter that protectionism is at odds with the theory of comparative advantage, according to which nations should engage in more international trade, not less. Trade barriers interfere with country-specific specialization of labor. When countries specialize in the products that they can produce best and then trade for the rest, they perform better in the long run, delivering superior living standards to their citizens. Critics also charge that blocking imports reduces the availability and increases the cost of products sold in the home market. Industries cannot access all the input products they need. Finally, protection can trigger retaliation, whereby foreign governments impose their own trade barriers, reducing sales prospects for exporters.

Answer to Question 2

Answer: TRUE