ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Standards can help with environmental issues
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Trade barriers protect certain industries that are vital to national security
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Trade barriers protect workers from unfair labor practices
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Trade barriers reduce efficient use of resources
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Detailed explanation-1: -The most common arguments for restricting trade are the protection of domestic jobs, national security, the protection of infant industries, the prevention of unfair competition, and the possibility to use the restrictions as a bargaining chip.
Detailed explanation-2: -The Correct Answer is Option 3 i.e Export Security.
Detailed explanation-3: -The five arguments for restricting trade are: protecting jobs, defending national security, helping infant industries, preventing unfair competition, and responding to foreign trade restrictions.
Detailed explanation-4: -Protects Domestic Jobs from Cheap International Labor. Protect Newly Developing Industries. Prevent “Dumping” Practices. An Increase in Revenue. VERs – or Voluntary Export Restraints. Regulatory Trade Barriers. Anti-Dumping Duty. The Subsidy. More items •07-Jun-2021