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D. Based on the text, fill in the table below
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| Arguments in favour of protectionism | Rebuttals of the arguments |
| ü protection of certain domestic industries ü employment protection ü ü | ü detriment to other domestic industries ü deterioration in the standard of living in the country ü ü |
Assignment 3. You are a group of manufacturers lobbying a local Congressman/MP. You purpose is to convince him/her that several protectionist laws are crucial for the survival and prosperity of your industry. Brainstorm for arguments against free trade and hold the meeting.
Assignment 4. Read the text below and fill in the table with the words that have the following meaning.
| to counterbalance or compensate for sth (e.g. the loss) | to offset |
| An economic philosophy of the 16th and 17th centuries that international commerce should primarily serve to increase a country's financial wealth, especially of gold and foreign currency. To that end, exports are viewed as desirable and imports as undesirable unless they lead to even greater exports. | |
| money that is paid by a government or an organization to reduce the costs of services or of producing goods so that their prices can be kept low | |
| a heavy weight or load; an oppressive burden (e.g. costs) | |
| the production of more of a product or commodity than is required | |
| to redistribute | |
| annulment | |
| (often disapproving) money that is given to a person or an organization by the government, etc., for example to encourage commercial activity | |
| economic principle according to which as the volume of production increases, the cost of producing each unit decreases (Syn.: economies of mass production) | |
| (when discussing a price, etc.) to agree on an amount that is exactly halfway between the two amounts that have been suggested | |
| to increase the amount, value, size, etc. of sth | |
| a measurement of the speed at which an economy is developing | |
| to make sth increase, or become better or more successful | |
| a level in a system of ordering things by size or amount, where each level is higher by a factor of ten | |
| to obtain sth, especially sth good, as a direct result of sth that you have done |
Date: 2015-09-23; view: 439; Нарушение авторских прав