Major Arguments for Protectionism Include All of the Following EXCEPT

question 8

Multiple Choice

Major arguments for protectionism include all of the following EXCEPT

• A) it saves domestic jobs.
• B) it is necessary because it reduces dependence on foreign sources of strategic goods.
• C) it produces large sources of income for government through tariffs.
• D) All of the above are arguments.
• E) A and B

---

Definitions:

Absolute Advantage

Absolute advantage refers to the ability of a country, firm, or individual to produce a good or service more efficiently than its competitors using the same amount of resources.

Production Possibilities

The different combinations of goods and services that an economy can produce given its available resources and technology.

Fish

Aquatic animals that are typically covered with scales and have gills for breathing in water.

Coconuts

The large, brown, hard-shelled seeds of the coconut palm, known for their edible white flesh and water, and used in various culinary and non-culinary applications.