Advocates of the Comparable Access Argument for Trade Protection Primarily

question 69

Multiple Choice

Advocates of the comparable access argument for trade protection primarily assert that domestic industries ________.

• A)will deteriorate in countries that have lower import restrictions than their trading partners
• B)should be required to implement export-led development policies on foreign competitors
• C)are entitled to the same access to foreign markets as foreign industries have to their markets
• D)are forced to lower prices for domestic consumers because of foreign import restrictions

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Definitions:

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and often strategic behavior among firms.

Oligopoly

A market structure in which a few firms dominate, and each one can significantly affect prices and other market factors.

Four-firm Concentration Ratio

An indicator of the extent to which the four largest firms dominate an industry, measured by their combined market share.

Herfindahl Index

A measure of market concentration, calculated by summing the squares of the market shares of all firms in the market.