Which Is a Valid Counterargument to the Call for Higher

question 114

Multiple Choice

Which is a valid counterargument to the call for higher tariffs to save U.S.jobs?

• A) Nations adversely affected by such tariffs are likely to retaliate,causing a costly trade barrier war.
• B) U.S.firms and workers must be shielded from the competitive practices of foreign businesses.
• C) Strategic trade policy calls for trading nations to erect trade barriers so that they will have the same competitive conditions.
• D) They are needed to protect U.S.workers from poor enforcement of labor standards in other nations.

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Definitions:

Merged

The process of combining two or more entities into one, typically referring to businesses or corporations uniting to form a single new entity.

Herfindahl Index

An assessment of how large companies are in proportion to their industry, serving as a sign of competitive dynamics.

Market Shares

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in an industry.

Four-Firm Concentration Ratio

An economic indicator that measures the combined market share of the top four firms in an industry, used to assess the level of competition.