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Economics

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đŸš« NO PLAGIARISM


Discussion Questions

1. Explain the national defense, declining industries and infant industry arguments for protecting a domestic industry from international competition.

2. Firms hurt by cheap imports typically argue that restricting trade will save U.S. jobs. What’s wrong with this argument? Are there ever any reasons to support such trade restrictions?

3. High tariffs usually lead to black markets and smuggling. How is government revenue reduced by such activity? Does smuggling have any social benefits?

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Explanation & Answer

Attached.

Discussion Questions - Outline
Thesis Statement: Protectionism and trade restrictions in an economy are rooted in various
national and international justifications; however, they may lead to various undesired
consequences, while smuggling and black market operations emerge as a result of tariffs and
could lead to lost government revenues as well as various social benefits.
1. Explain the national defense, declining industries and infant industry arguments for
protecting a domestic industry from international competition
2. Firms hurt by cheap imports typically argue that restricting trade will save U.S. jobs.
What’s wrong with this argument? Are there ever any reasons to support such trade
restrictions?
3. High tariffs usually lead to black markets and smuggling. How is government revenue
reduced by such activity? Does smuggling have any social benefits?


Running head: DISCUSSION QUESTIONS

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Discussion Questions
Name
Institution

DISCUSSION QUESTIONS

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Discussion Questions
1. Explain the national defense, declining in...


Anonymous
Very useful material for studying!

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