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👉 PLEASE ANSWER ALL QUESTIONS.
👉 👉 APA REFERENCE (USE UPDATE SOURCES)
👉EXCELLENT GRAMMAR
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Discussion Questions
1. Explain the national defense, declining industries and infant industry arguments for protecting a domestic industry from international competition.
2. Firms hurt by cheap imports typically argue that restricting trade will save U.S. jobs. What’s wrong with this argument? Are there ever any reasons to support such trade restrictions?
3. High tariffs usually lead to black markets and smuggling. How is government revenue reduced by such activity? Does smuggling have any social benefits?
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