Suppose the U.S. government was able to determine which industries would grow th
ID: 1209267 • Letter: S
Question
Suppose the U.S. government was able to determine which industries would grow the most rapidly over the next 20 years. Explain why this doesn’t necessarily mean there should be a policy to support the growth of these industries. Analyze the disadvantages of engaging in strategic trade policy, even in cases where it can be slow to yield an increase in a country’s welfare .
Suppose the U.S. government was able to determine which industries would grow the most rapidly over the next 20 years. Explain why this doesn’t necessarily mean there should be a policy to support the growth of these industries. Analyze the disadvantages of engaging in strategic trade policy, even in cases where it can be slow to yield an increase in a country’s welfare .
Explanation / Answer
The U.S. government requires to grow the market rapidly over the next 20 years. This does not mean that there should be a policy to support the growth of these industries. The market is strong tht the policies would not be important to grow business in the country. The disadvantage of engaging in the strategic trade policy in case where there can be slow down to yield in an increase inthe welfare of the country is that it would increase expenditure which is going to increase the price of the products.
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