Which economic argument in favor of trade barriers provides potential advantages directly to consumers?
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Answer: A. To soften the fall of declining industries.
Explanation
Trade barriers are sometimes argued to cushion declining domestic industries from sudden foreign competition. Proponents suggest this temporary protection gives struggling sectors time to restructure or downsize gracefully. Although economists debate their overall efficiency, this argument specifically targets domestic industry survival. Tariffs and quotas represent common trade barriers implemented by governments to restrict foreign imports. Declining industries often face severe structural unemployment when exposed to cheaper global markets. Protectionist policies generally raise prices for domestic consumers while shielding specific producer groups.
Governments weigh economic efficiency against social stability when considering import restrictions. International trade agreements aim to reduce trade barriers globally to promote open market competition. Labor unions frequently lobby for protective measures to safeguard jobs in vulnerable manufacturing sectors. Option B focuses on protecting domestic workers from low-wage foreign competition rather than softening decline. Option C addresses unfair trade practices like dumping rather than managing naturally declining industries. Option D aims to nurture new infant industries rather than manage the fall of established declining sectors.
- Subject
- Everyday Science
- Category
- Everyday Science
- Topic
- —
- Difficulty
- medium
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