Most Economists Agree That Valid Reasons for Protecting Trade Include

question 144

Multiple Choice

Most economists agree that valid reasons for protecting trade include which of the following? I. The economies of scale argument
II) The saving jobs argument
III) The protection of high wages argument

• A) I only
• B) I and II
• C) I and III
• D) None of the reasons are valid.

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Definitions:

Ultramares Rule

A doctrine limiting the liability of auditors to third parties for negligence, except in cases of fraud or misrepresentation.

Near Privity

A relationship closely resembling that of direct contractual connection, often recognized in legal contexts despite the absence of an actual contract.

Foreseen Users

Refers to individuals or groups that a product, service, or piece of information is expected to reach or impact.

Fraud

Purposefully misleading someone for one's own benefit or to harm another person.