Which of the Following Are Reasons Most Economists Consider Valid

question 38

Multiple Choice

Which of the following are reasons most economists consider valid for trade protection?
I. Protection penalises countries that have weak environmental standards.
II. Protection limits dumping of low- wage jobs into the domestic economy.
III. Protection prevents low- wage jobs in foreign countries from lowering wages in Australia.

• A) II and III
• B) I and II
• C) I, II and III
• D) None of the above

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Definitions:

Alice Paul

A prominent American suffragist and activist who played a key role in the campaign for women’s suffrage, leading to the adoption of the 19th Amendment to the U.S. Constitution.

Fundamentalists

Individuals or groups who strictly adhere to the basic principles of any subject or discipline, often used in the context of religion to describe those who assert the literal interpretation and strict adherence to its doctrines.

Prohibition

The period from 1920 to 1933 in the United States when the manufacture, sale, and distribution of alcoholic beverages were illegal under the 18th Amendment.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, beginning in the United States following the stock market crash of 1929.