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Unformatted text preview: Two main tools: ± Tariffs: tax on imports ± Nontariff barriers: other restrictions (e.g. quota) 3 The Case Against Protection It is often argued that international trade should be restricted to ± Protect national security ± Protect infant industries ± Punish dumping ± Saves jobs ± Allows us to compete with cheap foreign labor ± Brings diversity and stability to our economy ± Penalizes nations with lax environmental standards ± Protects national culture ± Prevents rich nations from exploiting poor ones...
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This note was uploaded on 11/05/2009 for the course BIO econ 001 taught by Professor Stein during the Spring '09 term at UPenn.
- Spring '09