Many economists ________ protectionism because it ________ consumers and ________ jobs in domestic industries that use protected products. O criticize; causes losses to; eliminates O criticize; unfairly rewards; relocates O support; lowers prices for; raises wages for O support; benefits; creates
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Step 1: Protectionism refers to government policies that restrict imports through tariffs, quotas, or other barriers in order to protect domestic industries from foreign competition. Show more…
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Economists sometimes say that protectionism is the “second-best” choice for dealing with any particular problem. What they mean is that there is often a policy choice that is more direct or effective for dealing with the problem—a choice that would still allow the benefits of trade to occur. Explain why protectionism is a “second-best” choice for: a. helping workers as a group b. helping industries stay strong c. protecting the environment d. advancing national defense
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