I. "Lahor and environmental requirements that are appropriate for a devekopod, wealthy economy may not be appropriate Kor less developed, poorer nations." This statement the argument. R. "A country rarcly relics on a single international source for strategic goods." T'his statement the argument. h. "Forcign lirms sometimes temporarily charge below-cost prices, driving U.S. competitors out of busincas." This statement the "unim

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International Trade – End of Chapter Problem
Consider cach argument for limiting international trade:
• The national security argument suggests that national security requires that strategically important goods he
produced domestically.
• The infant industry argument suggests that protection can help infant industrics devekop.
• The unfair competition argument suggests that anti-dumping laws prevent unfair competition.
• The fair standards argument suggests that trade should not enable lirms to skirt regulations.
Determine which argument cach statement is related to and whether the statement supports or opposes the argument.
a. "Industrics thal are prolected from forcign competition ofien never develop to a point where they can compete
internationally." This statement
opposes - the
infant industry
argument.
b. "If forcign importers do not meet U.S. requirements regarding child labor, safcty, and the cavironment, they will have
an unfair cost advantage over domestic lirms." This statement
opposes
the
fair standards
argument.
c. "If a lledgling industry is temporarily shiclded from forcign competition, it can ultimalely become globally
infant industry
competitive." This statement
supports. the
argument.
d. "Lawer-priced goods from abroad ofien result from comparative advantage rather than unfair compctition." This
opposes. the
unfair competition. argument.
stalement
e. "A country must he able to access stralegically important goods, such as wcapons, oil, and food, if trade were to ccase,
as during a war." This statement
supports
the
national security
argument.
f. "Lahor and environmental requirements that are appropriate for a devekopod, wcalthy cconomy may not be appropriale
for less developcd, poorer nations." This statement
the
argument.
B. "A country rarcly relies on a single international source for strategic goods." This statement
the
argument.
h. "Forcign lirms sometimes temporarily charge below-cost prices, driving U.S. competitors out of busincss." This
statement
the
argument.
Transcribed Image Text:International Trade – End of Chapter Problem Consider cach argument for limiting international trade: • The national security argument suggests that national security requires that strategically important goods he produced domestically. • The infant industry argument suggests that protection can help infant industrics devekop. • The unfair competition argument suggests that anti-dumping laws prevent unfair competition. • The fair standards argument suggests that trade should not enable lirms to skirt regulations. Determine which argument cach statement is related to and whether the statement supports or opposes the argument. a. "Industrics thal are prolected from forcign competition ofien never develop to a point where they can compete internationally." This statement opposes - the infant industry argument. b. "If forcign importers do not meet U.S. requirements regarding child labor, safcty, and the cavironment, they will have an unfair cost advantage over domestic lirms." This statement opposes the fair standards argument. c. "If a lledgling industry is temporarily shiclded from forcign competition, it can ultimalely become globally infant industry competitive." This statement supports. the argument. d. "Lawer-priced goods from abroad ofien result from comparative advantage rather than unfair compctition." This opposes. the unfair competition. argument. stalement e. "A country must he able to access stralegically important goods, such as wcapons, oil, and food, if trade were to ccase, as during a war." This statement supports the national security argument. f. "Lahor and environmental requirements that are appropriate for a devekopod, wcalthy cconomy may not be appropriale for less developcd, poorer nations." This statement the argument. B. "A country rarcly relies on a single international source for strategic goods." This statement the argument. h. "Forcign lirms sometimes temporarily charge below-cost prices, driving U.S. competitors out of busincss." This statement the argument.
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