(a) Explain, with examples, three arguments for free trade and three for protectionism, (b) If politicians decide to proceed with trade protectionism, why might economists advise them to go with tariffs instead of quotas? Offer at least three reasons.
(a) Explain, with examples, three arguments for free trade and three for protectionism,
(b) If politicians decide to proceed with trade protectionism, why might economists advise them to go with tariffs instead of quotas? Offer at least three reasons.