Supporters of globalization insist that dislocation in the form of lost jobs is a trade-off that will ultimately lead to the economy being better off.Which of the following is being justified in this case?
A) Protectionism and retaliatory trade policy
B) Free trade of goods and services
C) Rise of Communism
D) High tariff on imports of manufactured goods
E) The need to be a self-contained nation

Question

Quizplus · Accepted Answer

Supporters of globalization justify the dislocation in the form of lost jobs as a trade-off for the benefits of free trade of goods and services. They believe that increased competition and access to foreign markets will ultimately lead to economic growth and prosperity. Protectionism, retaliatory trade policy, high tariffs on imports, and the need to be a self-contained nation are all opposed to the principles of free trade and globalization. The rise of communism is not relevant to this context.

Supporters of Globalization Insist That Dislocation in the Form of Lost