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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Do the rules of international trade require that all nations impose the same consumer safety standards?

To determine

Whether or not the rules of international trade require all countries to impose same set of consumer safety standards.

Explanation

Protectionism based on unsafe consumer products: When a country restricts imports based on consumers’ safety standards, it is called the unsafe consumer products argument. Consumer rights organizations have showed concerns that consumer safety standards of countries would be compromised under WTO rules. However, to resolve this issue, WTO allows every country to establish its own consumer safety standards...

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