Question
a. Explain the national defense, declining industries, and infant industry arguments for protecting a cosmeXXX industry from international XXXXXXXXXXX.
XXXXXXXX Defense argument XXXX XXXX if a XXXXXX relies XX imports for weapons, XXXXXXXXX for XXXXXXX, or XXXXX XXXXX necessary to XXXX XXX that XXXXXX could be XXXXXXXXXX XX XXXXX XXX XXX.Answer: XXXXXXXXX industries- I believe XXXX XXX argument of XXXXX you XXXXX is talking about an XXXXXXXX XXXXX XXXX are declining. XXXX is usually XXXXXX a "crisis" XXX it XXXXX upon XXXX XXXXX XX XXXXXX moral XXXXXX to protect XXX helpless XXXXXXX from cheaper foreign goodsXXXXXX Industry XXXXXXXX says XXXX it may XX possible XXX the industry of a nation to compete in the global market, however it XXXXX XX be XXXXXXXXX before it XXX XX developed. The problems with XXXX argument is XXXX you can XXXX this XXXXXXXX for XXX industry, XXXX in one that XXXXXX XXXXXXX ever, and the XXXXXX who decide XXXX XXX"t XXXX XXXXXXXX to lose based on it. XX it XXX true XXXX an industry XXXXXX XXXX to grow, then investors XXXXX XX XXXXXXX XX put XXXXX XXXXX XXXX it and XXX businessmen who XXXXXXXX XXXX XXXX industry would XX willing XX XXXX on XXX debt to XXXX up XX that XXXXX.
b. Firms hurt XX XXXXX XXXXXX imports XXXXXXXXX XXXXX that XXXXXXXXXXX XXXXX will save U.S. jobs. What"s wrong XXXX this XXXXXXXX? XXX XXXXX XXXX XXX XXXXXXX to support XXXX trade XXXXXXXXXXXX?
XXXXXX: No, its XXXXXXXX chief problems with this argument XXX XXXX XXXX saved by XXXXXX protection XXX likely XX XX offset XX jobs lost in export industries XX other nations retaliate XXX the fact that potential XXXXX from XXXXX XXX not realized. XXXXXXXXXXX, XX XXXXXX jobs in industries for XXXXX XX do XXX have a XXXXXXXXXXX XXXXXXXXX, XX XXXXX up the XXXX XX XXXXXXXX goods in XXXX XXXXXXX and slow the structural shifts in the XXXXX economy that are necessary to allocate world resources XXXXXXXXXXX. XXXX XX an XXXXXXXX were so vital XX U.S. XXXXXXXXX to deem foreign trade XXXXXXXXXX "XXX XXXXXXXXX" XXXXX such an argument ever make XXXXX.