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Answer to Question #71655 in Microeconomics for Richard Brown

Question #71655
What are the 4 arguments for Protective Trade?
Expert's answer
Economic arguments in favor of protection policy are: 1. “Infant Industry” Argument 2. “Diversification of Industry” Argument 3. “Promotion of Employment” Argument 4. “Balance of Payments” and “Terms of Trade” Argument 5. “Pauper Labour” Argument 6. “Anti-Dumping” Argument.

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