00:01
Cool, so we're going to go over these four economics questions.
00:03
And the first one asks, in which one of the following cases is the national defense argument, a valid one for tariff protection and why? the national defense argument refers to the idea that tariffs can be justified as a means to protect domestic industries that are essential for national security defense.
00:19
It's based on the premise that a country needs to maintain self -sufficiency in certain critical goods to ensure security when there's a conflict or a crisis.
00:26
So among these four options, we can see that c here is the best choice.
00:33
When a country is anticipating a potential armed conflict, it wants to safe good industries that produce crucial goods and crucial national defense products as well.
00:45
Let's move on to the second one.
00:47
Which of the following is not a part of the wto stance on trade? in this case, we can see that b would probably be the best answer, but that's because the wto stance on trade doesn't explicitly state that any trade barrier that reduces greenhouse gas emissions is permissible.
01:04
Now the wto, their focus is really on promoting and facilitating international trade, and while it recognizes the importance of environmental concerns, like global warming and greenhouse gas emissions, the wto does not provide a blanket endorsement for all trade barriers aimed at reducing greenhouse gas emissions.
01:23
So let's move on to the third one.
01:26
The theorist most likely to argue that a state's competitiveness is closely linked with the competitiveness of its mncs are blank...