Asked by
Jahiem Freeman
on Oct 11, 2024
Verified
Frederic Bastiat's,"A Petition From the Candlemakers",presents a satirical view of protectionism because
A) it pictures the sun as an unfair foreign competitor.
B) it argues the government should ban all imports.
C) it makes consumer preferences for foreign products the source of trade problems.
D) it makes domestic workers the source of all trade problems.
E) it makes a joke of budget deficits,the source of all trade problems.
Protectionism
The economic policy of restricting imports from other countries through methods like tariffs and quotas to protect domestic industries.
Frederic Bastiat
Frederic Bastiat was a 19th-century French economist and writer known for his advocacy of free markets, individual freedoms, and his critiques of socialism.
- Evaluate thoroughly the theoretical underpinnings and practical ramifications of protectionism versus free trade in an international context.
Verified Answer
HS
Learning Objectives
- Evaluate thoroughly the theoretical underpinnings and practical ramifications of protectionism versus free trade in an international context.