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The United States and other countries require some products (automobiles in particular) to contain a percentage of "local content" to gain admission to their markets. This is an example of the stringent usage of _____ to restrict trade. A. exchange permitsB. embargoesC. blocked currenciesD. standardsE. antidumping penalties
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- Randall, a protectionist, has seen several small businesses go bankrupt because they were unable to compete with the cheaper prices of goods provided by foreign companies. The cell-phone manufacturing industry has just started in the United Kingdom, and Randall's company is one of the first to try its hand at cell-phone manufacturing. Which of the following arguments is most likely to be used by Randall to persuade his government to restrict the import of foreign cell phones from foreign companies? A. Protection of an infant industryB. The need to keep money at homeC. Conservation of natural resourcesD. National defenseE. Maintenance of standard of living