Question

What do most economists find to be the most persuasive argument in favor of​ protectionism?

a. trade barriers protect infant industries that initially have relatively high costs.
b. trade barriers protect our national security.
c. trade barriers prevent firms from having to pay lower wages to compete with firms in developing countries.
d. trade barriers reduce child labor in developing countries.
e. both a and
b?

Answer 1

Economist find trade barriers product infant industries that initially have relatively high costs to be the most persuasive argument in favor of protectionism.

Protectionism is an economic policy that restricts imports from other countries. They use tariffs (tax regulations) on import goods as well as other government regulations to do this. Protectionism is said to protect local businesses from other country competition.

Answer 2

Trade barriers protect infant industries that initially have relatively high costs ( A )

Step-by-step explanation:

protectionism is an act of protection of local industries made by Government by restricting imports from other countries on goods and services been produced locally by industries in the country. this act is made possible by imposing tariffs on imported goods and services from other countries.

economists have argued that protectionism is not a very good practice especially for developing countries because if the other countries retaliate the countries who imposed tariffs on imported goods will suffer the most. the fact that economist agree on is the fact that Trade barriers protect infant industries from unfair foreign competition.