Suppose there is a policy debate over whether the United States should impose trade restrictions on imported ball bearings: A political pundit explains that it is necessary to impose trade restrictions, such as a tariff, on the ball-bearing industry to protect workers in the domestic ball-bearing industry. The pundit claims that without trade protection, there will be layoffs, causing many U.S. workers in the ball-bearing industry to be unemployed. Which of the following justifications is the pundit using to argue for the trade restriction on ball bearings? National security argument Employment argument Cheap foreign labor argument Infant industry argument
Suppose there is a policy debate over whether the United States should impose trade restrictions on imported ball bearings: A political pundit explains that it is necessary to impose trade restrictions, such as a tariff, on the ball-bearing industry to protect workers in the domestic ball-bearing industry. The pundit claims that without trade protection, there will be layoffs, causing many U.S. workers in the ball-bearing industry to be unemployed. Which of the following justifications is the pundit using to argue for the trade restriction on ball bearings? National security argument Employment argument Cheap foreign labor argument Infant industry argument
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose there is a policy debate over whether the United States should impose trade restrictions on imported ball bearings:
A political pundit explains that it is necessary to impose trade restrictions, such as a tariff, on the ball-bearing industry to protect workers in the domestic ball-bearing industry. The pundit claims that without trade protection, there will be layoffs, causing many U.S. workers in the ball-bearing industry to be unemployed.
Which of the following justifications is the pundit using to argue for the trade restriction on ball bearings?
National security argument
Employment argument
Cheap foreign labor argument
Infant industry argument
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