Salvatore
c09.tex
V2 - 10/26/2012
12:54 A.M.
Page 291
Problems
291
possible? Why does dumping usually lead to trade
restrictions?
6.
Why do nations subsidize exports? To what prob-
lems do these subsidies give rise?
7.
What are the fallacious and questionable arguments
for protection? Why are they fallacious and ques-
tionable?
8.
What is the infant-industry argument for protec-
tion? How must this argument be qualified?
9.
What are the other qualified arguments for protec-
tion? In what way must they be qualified?
10.
What is meant by strategic and industrial trade pol-
icy? What is its relevance?
11.
What is the importance of the Trade Agreements Act
of 1934? What are the ruling principles of GATT?
12.
What are the major accomplishments of the
Kennedy Round? of the Tokyo Round? What do
the Trade Acts of 1984 and 1988 provide?
13.
What did the Uruguay Round accomplish?
14.
What are the outstanding trade problems facing the
world today?
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