You learned that there are some arguments in support of restricting imports. Match the right and left sides correctly: Infant industry argument v [Choose ] the threat of blocking international trade can pressure low-income countries for higher environmental standards block imports for a limited time, to give an industry time to mature, before it starts competing on equal terms in the global economy block imports that are sold below the cost of production by imposing tariffs that increase the price of these imports to reflect their cost of production Anti-dumping laws certain imported products are unsafe for consumers there are compelling national interests against depending on key imports from other nations Environmental protection argument [ Choose ] Unsafe consumer products argument [ Choose ) National interest argument [ Choose ]

You learned that there are some arguments in support of restricting imports. Match the right and left sides correctly: Infant industry argument v [Choose ] the threat of blocking international trade can pressure low-income countries for higher environmental standards block imports for a limited time, to give an industry time to mature, before it starts competing on equal terms in the global economy block imports that are sold below the cost of production by imposing tariffs that increase the price of these imports to reflect their cost of production Anti-dumping laws certain imported products are unsafe for consumers there are compelling national interests against depending on key imports from other nations Environmental protection argument [ Choose ] Unsafe consumer products argument [ Choose ) National interest argument [ Choose ]

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 4PA

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Similar questions

Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.
Consider two countries: South Korea and Taiwan. Taiwan can produce one million mobile phones per day at the cost of 10 per phone and South Korea can produce 50 million mobile phones at 5 per phone. Assume these phones are the same type and quality and there is only one price. What is the minimum price at which both countries will engage in trade?
Why might the unsafe consumer products argument be a more effective strategy (from the perspective of the importing country) than using tariffs or quotas to restrict imports?
How would direct subsidies to key industries be preferable to tariffs or quotas?