Page 85 - BA1 Integrated Workbook STUDENT 2018

Macroeconomics II – The international economy

2.2 Protectionism

Protectionism

Arguments for Arguments against Methods

 Employment  Inefficiency  Tariffs

 Infant industries  Resource  Quotas
misallocation
 Declining industries  Hidden restrictions
 Cost of living rise
 Unfair competition  Subsidies
 Retaliation
 Protect balance of
payments

 Security

 Raise revenue

 Balance of
payments

79