Question

Consider each argument for limiting international trade:

The national security argument suggests that national security requires that strategically important goods be produced domestically.
The infant industry argument suggests that protection can help infant industries develop.
The unfair competition argument suggests that anti‑dumping laws prevent unfair competition.
The fair standards argument suggests that trade should not enable firms to skirt regulations.

Determine which argument each statement is related to and whether the statement supports or opposes the argument.
a. "Industries that are protected from foreign competition often never develop to a point where they can compete internationally." This statement _________the ______________argument.
b. 'If foreign importers do not meet U.S. requirements regarding child labor, safety, and the environment, they will have an unfair cost advantage over domestic firms." This statement ___________ the________ argument.

Answer 1

a. opposes the infant industry argument.

b. supports the fair standard arguments.

Step-by-step explanation:

The companies are regulated by the standards. There are certain standards which businesses need to follow in order to achieve regulatory compliance. The companies are regulated but there should be fair competition which enables firms to promote healthy competition in order to develop their business.