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Running head: THE UGLY SIDE OF PROTECTIONISM IN
THE US 1
THE UGLY SIDE OF PROTECTIONISM IN THE US
6
The Ugly Side of Protectionism in the US
Soumya Rastogi
Royal Roads University
The Ugly Side of Protectionism in the US
Introduction
The modern era has set in with massive changes socially,
economically and politically. While there are various eye-
catching trends economically, the most interesting one so far
has been seeing the US, the world’s largest economy take on a
protectionist approach in international trade. Protectionism
entails the adoption and implementation of policies, which gives
the home industries an unfair advantage at the expense of the
foreign competition (Melgar, Baleix & Rossi1, 2013). On paper,
protectionism seems a good economic policy for the USA, but,
practically, it is unhealthy for its economy.
The Discussion
So far, President Donald Trump has taken a huge step towards
the implementation of this approach. Other than withdrawing
from the Trans-Pacific Partnership trade pact signed the former
head of state President Barack Obama, Trump has also
renegotiated or abandoned the NAFTA trade deal with Canada
and Mexico. He has also imposed a 35% tax on every imported
car as well as slapping China with a 45% tax on its exports to
the country.
As a result, the US native producers, workers, and business
people have really enjoyed the economic protection from
foreign competitors. The infant industries particularly will
benefit the most as the shelter will allow them ample time and
space to invest in their production amenities and workforces and
win the trust of the local customers before the setting
international market opens up for foreign competitors. Melgar,
Baleix, and Rossil (2013) state that the emergence of the
Chinese, Japanese, and South Korean industrialization is partly
because they were able to protect their indigenous farms from in
their infant stages, allowing them time and space to grow and
fortify before going into competition with companies from the
West.
According to the notion of the Game Theory, protectionism may
be necessary. Since other players like China, South Korea, and
Japan are protecting their companies, it is also important that
the US also offers its industries the same privilege. For a case
in point, Tziamalis (2018) argues that if the European Union is
indirectly subsidizing the European Company Airbus, the US
government has a strong case to retaliate and consider
subsidizing the American airplane manufacturer Boeing as well.
If they do not, then European Company Airbus will eventually
gain a much greater market share that, in turn, may force
Boeing out of the business altogether.
Nevertheless, the reality is that the protectionist approach is
“ugly,” “unhealthy,’ and bad for the US economy. Considering
the tenets of the Economic Theory, for instance, free trade is
much healthier than restricted trade (protectionism). The school
of thought holds that free trade makes everything cheaper;
hence affordable and also improves the quality of merchandises,
thereby directly profiting every person (Tziamalis, 2018). The
argument stems from the fact that different states boost
different strengths of production, which could be rare resources,
technological expertise, cheap workforce, or geography.
The argument goes that when every nation concentrates and
specializes what they produce best or cheapest, they produce
high standard and or cheap products. The commodities could
then be traded between states, thereby leaving every player and
consumer satisfied. It is the same principle as when everyone
specializes in one career and then trading the products that we
require, rather than trying to manufacture everything ourselves.
With the protectionist policy, as a result, it is the US’ economy
that will be on the losing end, which will suffer the most as
compared to the foreign competitors. For example, if the United
States increases its import levies and non-tariff barriers against
all nations by, say 20% and the nations also take the same
measures against imports from America, the outcome would be
significant losses in income and GDP for the US economy
(National Institute of Economic and Social Research, 2018).
Particularly in times of sluggish economic growth, even trivial
drops in GDP are costly to employees, consumers, and
companies. In this sense, instead of flourishing the country,
protectionism will take it to poverty.
Another reason why the US economy will suffer because of the
protectionist approach is that it will lower the standards; hence,
quality of goods and services (National Institute of Economic
and Social Research, 2018). In business, competition is the
ingredient for quality productions. Without it, producers and
manufacturers will have no source of pressure to perform at the
highest levels of standards. Protectionism will allow the US
industries to grow, but when their productions get to the
international market, they will struggle to match the quality
standard set there.
Given these reasons, I advocate for free trade, the approach,
which US’ former president Barack Obama had taken. Free
trade can pull any state out of poverty as it can source massive
income to a nation from abroad, as well as pushing its
businesses towards constant investment, hard work and
revolution to grow their international market-share (Tziamalis,
2018). The ideology also applies to industries that do not
export, but now require to keep their quality high but their
prices low and affordable to beat the inbound competition.
As such, other than the protectionist policy, president Trump
should consider reverting to the incumbent free trade. The
workers and producers do not require any protection from the
international competitors, but to improve their game in the
foreign trade so that they can be able to compete effectively and
attain their sustainability. Among the ways of achieving this
milestone include hiring skilled and experienced workers and
investing in technology. It is only by doing this that the US
businesses will adapt to the evolving economy.
Conclusion
In conclusion, it is true that protectionism has various
advantages. However, it is not safe for the US economy. If
America cannot revert to the free trade approach, then its
industries will have to improve their performance in the
international trade. Only this way, will USA safe its economy
from collapsing and adapt to the surfacing economy.
References
Melgar, N., Baleix, J. M., & Rossi1, M., (2013). Explaining
Protectionism Support: The Role of Economic Factors. Hindawi
International Scholarly Research Notices. Retrieved
https://www.hindawi.com/journals/isrn/2013/954071/
Tziamalis, A., (2018). Explainer: what is protectionism and
could it benefit the US economy? The Conversation. Retrieved
from http://theconversation.com/explainer-what-is-
protectionism-and-could-it-benefit-the-us-economy-73706
National Institute of Economic and Social Research, (2018).
How could protectionism affect the US economy? Retrieved
from https://www.niesr.ac.uk/blog/how-could-protectionism-
affect-us-economy
MATH 150 W01 Name ------------------------------
------------- Exam I
Fall, 2018
Dr. Mahmoud
1. Simplify the following expressions.
i.
( )
2 33 8
5
3x y x
x y
−
−
ii.
3
1
2 3
2
3 4
4 3
x
x y
y
−
−
iii.
16 14
64x y =
iv.
( )
6 2
2
2
x y
x
=
+
v. 3 4− − − =
vi. ( )
2
3 1 5 (1 )x x x− − − =
vii. ( )( ) =3
5
2524
yyy
viii. ( )
2
2 3 5x− =
2. Perform the following operations:
i. =
++
−
−
−
34
3
9
1
22
xxx
ii. =
−
−
−−
−
16
3
82
6
22
xxx
x
iii. =
−
− 551
2
2
r
r
r
r
iv. =−
+
−
4
1
2
1
x
x
3. Find the equation for the line with the given properties.
Express your answer in point-slope
form of the equation of a line.
(i) Graphed below.
(ii) Perpendicular to the line 12 += xy containing the point
)3,1( − .
-3 -2 -1 1 2 3
-10
-5
5
10
15
20
4. Determine whether a relation is a function. If the relation is a
function, state its domain and range.
5. This exercise assesses your understanding of the definition of
a function.
i. Sketch a curve in the coordinate plane that is not the graph of
a function and justify your
answer.
ii. Give an example of a function whose domain consists of 5
numbers and whose range
consists of 3 numbers.
iii. Give an example of a function whose domain is the set of all
real numbers and whose
6. Find the domain of the function defined by the following
equation:
(d) 3)( xxf −=
7. For the functions ( ) 2 4f x x= − and ( ) 3 6g x x= − + , find
the following and also find the
domain:
8.
9. Which of the following are graphs of functions? In either
case, state the domain and
range of the relation. Using the definition of a function, state
why the vertical – line test
works.
(a) (b) (c)
(d)
10. Given the graph of the function, find each of the following:
The zeros of a function: If f (r ) = 0 for a real number r, then r
is called __a zero____ of f.
11. For the function g below find the following:
12.
Definition: A function is even if, for every number x in its
domain, the number – x is also
in the domain and f (−x) = f (x). So, in an even function, for
every point (x, y) on the graph, the
point (-x, y) is also on the graph.
Theorem: A function is even if and only if its graph is
__symmetric___ with respect to the
y- axis
Definition: A function is odd if, for every number x in its
domain, the number – x is also
in the domain and f (−x) = − f (x). So, in an odd function, for
every point (x, y) on the graph, the
point (-x, -y) is also on the graph.
Theorem: A function is odd if and only if its graph is symmetric
with respect to the origin
13. Use the definitions of even and odd functions to determine
algebraically whether each of
the following functions is even, odd, or neither. Then graph to
see symmetry.
Definitions: A function f is increasing on an open interval I if,
for any choice of
1
x and
2
x
in I, with
1
x <
2
x we have
1 2
as the
values of x get bigger, the values of the function also get
bigger.
A function f is decreasing on an open interval I if, for any
choice of
1
x and
2
x in I, with
1
x <
2
x we have
1 2
as the values of
x get bigger, the values of the function get smaller.
A function f is constant on an open interval I if, for all choices
of x in I, the values of f(x)
Are stay the same.
14. Determine where the function is increasing, decreasing, or
constant from its graph.
(a) Where is the function increasing?
(b) Where is the function decreasing?
(c) Where is the function constant?
15. For each of the functions in our library, fill in the table of
values, graph the function, then
complete the table of properties.
properties y x= 2y x=
3
y x= y x= 3y x= 1y
x
=
y x=
Domain:
Range:
x-Intercepts
y- Intercepts
Symmetry:
Interval the
function is
decreasing:
Interval the
function is
increasing:
f(x) y x= 2y x=
3
y x= y x=
Graph
3y x= 1y
x
=
y x=
Graph Piecewise – Defined Functions
16. The function f is defined as
(a) Find f (−2), f (1), and f (2)
(b) Determine the domain of f.
(c) Locate any intercepts
(d) Graph f.
Function Transformations
17. Using the graph of a parent function and the appropriate
transformations, draw the graph
of the following function. Make sure you draw all intermediate
steps, indicate which
transformation was applied and label the coordinates of a
relevant point.
21)( 3 −+−= xxf
18.
19. For each of the following quadratic equations determine
their number of solutions (using
i. 0232
2
=−+ xx
ii. 01
2
=−+ xx
Inequalities Involving Quadratic Functions
above.
Running Head:PROTECTIONISM 1
PROTECTIONISM 6
Topic:
Name:
Institution:
Date:
Protectionism is bound to be detrimental to the US economy in
the long run
Protectionism is the act of a government regulating the presence
and operations of foreign companies and organizations
operating in their soil in order to shield its domestic industries.
Most of the time the regulations are done by imposing high
tariffs and levies on foreign companies in order to discourage
them from operating in foreign soils. Most of the time
protectionism is done in good faith however it always generates
a negative ripple effect on the general economy of the country
practicing protectionism. It is important that nations protect
specific industries however there should be a limit to it in order
to ensure the survival of an economy. In relation to economic
theories, the Laissez-faire theory is against government
interference in the economy more so in capitalistic states
(Berend, 2016).
Trumps push for the United States of America to practice
protectionism might be in response to protect the industries of
the nation. Protectionism might be effective for a short
duration,however, in the long run, will hurt the nation.
Protectionism is bound to create a vicious protectionist cycle in
the world
What the president and his government should do is to look for
ways of reducing fiscal deficits by reducing public spending and
increasing revenue. Amando wrote in his article towards the end
of 2017 that protectionism is bound to rub off on other nations
wrongly more so other economic giants in the world such as
china and the UK (Armando, 2017). The most likely reaction to
the US’ protectionism is other nations blocking or curtailing the
operations of US firms, companies and organizations in their
countries. According toLavergne, this would have a negative
ripple effect on the US’ economy as the creation of a vicious
protectionist cycle (Lavergne, 2014). Not only will it affect the
country’s economy but also trade agreements and political
environment; inter-political environment will be tense (Watson
& James, 2013).
Another disadvantage of protectionism is that it impedes the
sharing of technology (Demboaur& Stammers, 2018). At the
moment, the US is one of the nations that can be categorized in
the top ten technological nations of the world. The way
technology advancement happens is through the sharing of
technology; nations build on other nation’s technological
advancement. By advocating for protectionism, other nations
become unwilling to share their technological advancement with
the US. The US can survive with the technology it has for a
limited number of years but with other nations sharing their
technologies the US can be more technological advanced
(Grundke& Moser, 2016).
Different nations have their own specialty and productivity
advantages. For example countries in the Middle East are rich in
fossil fuel compared to countries from any other part of the
world. Asian nations are good at technology. Protectionism
impedes the use of other countries advantages and specialty
(Wind, 2017). As of the moment, the nation’s automobile
industry is moving to eco-friendly technology and by choosing
to practice protectionism, the country risks losing the
technological specialty that other nations offer in eco-friendly
technology. This, in the long run, will affect the automobile
industry which in turn will affect the country’s economy.
Protectionism is bound to create a lack of competition
In relation to the theory of demand, supply and the price
mechanism, the price of a commodity determines how much of a
product a consumer purchases. By enforcing protectionism, the
president and his government are directly doing away with
competition thereby doing away with a major regulator of
pricing in commodities. When there are many competitors
offering similar products, then the price of the commodity is
bound to be low. In the US case, protectionism will do away
with competition leaving the nation with fewer suppliers of
commodities. Due to low supply, the demand of the
commodities is bound to shoot which will also bring up the
pricing of the commodities(Watson & James, 2013). If the
commodities are highly priced then fewer Americans will be
able to afford the commodities which will impact the industries.
If the industries are crippled then the economy will be crippled
as well.
Protectionism will lead to unemployment
As of the moment, there are many foreign manufacturing
companies as well as organizations that have their operations in
the US and by enforcing protectionism; the US government
indirectly renders many Americans jobless. One of the
conditions that foreign manufacturing companies had to meet in
order to get their operating licenses was that they employ
Americans. By making this companies and organizations close
shop, the US government is terminating the services of the
Americans working in the companies (Irwin, 2017).
Unemployment reduces the purchasing power of those
unemployed which in turn affects the GDP and the economy in
general. In reference to Melgar, Milgram-Baleix and Rossi,
Unemployment pushes people to look for other ways of getting
money and some people switch to social vices and crime
(Melgar, Milgram-Baleix& Rossi, 2013). An increase in crime
rate due to unemployment discourages people from venturing
into business; unemployment breeds an unhealthy business
environment.
Manufacturing workers can use their unions to campaign
against protectionism. The can also use their unions to secure
them their jobs in the eventuality that protectionism is enforced.
Manufacturing workers union can twist the hands of the
government to ensure that workers do not lose their jobs should
their foreign employers be forced or pushed out of American
soil (Thompson, 2017).
Conclusion
Protectionism is damaging to any country’s economy with the
US included. The act of restricting foreign companies from
operating in foreign soils is bound to get retaliation from the
restricted nations. Foreign nations will not be too eager to
import products and services from the US if they believe that
the US does not favor their operations in the US. If retaliation
takes place then the US will have to depend entirely on its
domestic market to push and run its economy. The above is not
sustainable for long. Protectionism is not typically good for the
economy as it will damage international relations in the process.
In addition, it is bound to cause many Americans who rely on
foreign organizations operating on American soil to lose their
jobs. It is advisable that the government regulates specific
industries to allow for the growth of domestic companies as
opposed to enforcing protectionism on all the industries in the
US.
References
Armando, M. V. (2017). The impact of the new US foreign trade
policies on the economics relations between EU and
Mercosur (Doctoral dissertation).
Berend, I. T. (2016). An economic history of twentieth-century
Europe: economic regimes from laissez-faire to globalization.
Cambridge University Press.
Dembour, M. B., & Stammers, N. (2018). Free trade,
protectionism, neoliberalism: tensions and continuities. London
Review of International Law, 6(2), 169-188.
Grundke, R., & Moser, C. (2016).Evidence of Hidden
Protectionism in the US in the Great Recession.
Irwin, D. A. (2017). Peddling protectionism: Smoot-Hawley and
the great depression. Princeton University Press.
Lavergne, R. P. (2014). The political economy of US tariffs: An
empirical analysis. Elsevier.
Melgar, N., Milgram-Baleix, J., & Rossi, M. (2013).Explaining
protectionism support: the role of economic factors. ISRN
Economics, 2013.
Thompson, B. (2017). Solving the Corporate Inversion
Phenomenon: An Exercise in Free Market Patriotism,
Protectionism ThroughFaciliation. The Business,
Entrepreneurship & Tax Law Review, 1(2), 657.
Watson, K., & James, S. (2013). Regulatory protectionism: A
hidden threat to free trade.
Wind, S. L. (2017). The Decline of Manufacturing in the US
Economy: Impacts of China's ‘Trade Shock’, Trump's
Protectionist Tariffs, and the Drivers of Manufacturing Job
Losses (Presentation Slides).

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Running head THE UGLY SIDE OF PROTECTIONISM IN THE US 1TH.docx

  • 1. Running head: THE UGLY SIDE OF PROTECTIONISM IN THE US 1 THE UGLY SIDE OF PROTECTIONISM IN THE US 6 The Ugly Side of Protectionism in the US Soumya Rastogi Royal Roads University The Ugly Side of Protectionism in the US Introduction The modern era has set in with massive changes socially, economically and politically. While there are various eye- catching trends economically, the most interesting one so far has been seeing the US, the world’s largest economy take on a protectionist approach in international trade. Protectionism entails the adoption and implementation of policies, which gives the home industries an unfair advantage at the expense of the foreign competition (Melgar, Baleix & Rossi1, 2013). On paper, protectionism seems a good economic policy for the USA, but, practically, it is unhealthy for its economy. The Discussion
  • 2. So far, President Donald Trump has taken a huge step towards the implementation of this approach. Other than withdrawing from the Trans-Pacific Partnership trade pact signed the former head of state President Barack Obama, Trump has also renegotiated or abandoned the NAFTA trade deal with Canada and Mexico. He has also imposed a 35% tax on every imported car as well as slapping China with a 45% tax on its exports to the country. As a result, the US native producers, workers, and business people have really enjoyed the economic protection from foreign competitors. The infant industries particularly will benefit the most as the shelter will allow them ample time and space to invest in their production amenities and workforces and win the trust of the local customers before the setting international market opens up for foreign competitors. Melgar, Baleix, and Rossil (2013) state that the emergence of the Chinese, Japanese, and South Korean industrialization is partly because they were able to protect their indigenous farms from in their infant stages, allowing them time and space to grow and fortify before going into competition with companies from the West. According to the notion of the Game Theory, protectionism may be necessary. Since other players like China, South Korea, and Japan are protecting their companies, it is also important that the US also offers its industries the same privilege. For a case in point, Tziamalis (2018) argues that if the European Union is indirectly subsidizing the European Company Airbus, the US government has a strong case to retaliate and consider subsidizing the American airplane manufacturer Boeing as well. If they do not, then European Company Airbus will eventually gain a much greater market share that, in turn, may force Boeing out of the business altogether. Nevertheless, the reality is that the protectionist approach is “ugly,” “unhealthy,’ and bad for the US economy. Considering the tenets of the Economic Theory, for instance, free trade is much healthier than restricted trade (protectionism). The school
  • 3. of thought holds that free trade makes everything cheaper; hence affordable and also improves the quality of merchandises, thereby directly profiting every person (Tziamalis, 2018). The argument stems from the fact that different states boost different strengths of production, which could be rare resources, technological expertise, cheap workforce, or geography. The argument goes that when every nation concentrates and specializes what they produce best or cheapest, they produce high standard and or cheap products. The commodities could then be traded between states, thereby leaving every player and consumer satisfied. It is the same principle as when everyone specializes in one career and then trading the products that we require, rather than trying to manufacture everything ourselves. With the protectionist policy, as a result, it is the US’ economy that will be on the losing end, which will suffer the most as compared to the foreign competitors. For example, if the United States increases its import levies and non-tariff barriers against all nations by, say 20% and the nations also take the same measures against imports from America, the outcome would be significant losses in income and GDP for the US economy (National Institute of Economic and Social Research, 2018). Particularly in times of sluggish economic growth, even trivial drops in GDP are costly to employees, consumers, and companies. In this sense, instead of flourishing the country, protectionism will take it to poverty. Another reason why the US economy will suffer because of the protectionist approach is that it will lower the standards; hence, quality of goods and services (National Institute of Economic and Social Research, 2018). In business, competition is the ingredient for quality productions. Without it, producers and manufacturers will have no source of pressure to perform at the highest levels of standards. Protectionism will allow the US industries to grow, but when their productions get to the international market, they will struggle to match the quality standard set there. Given these reasons, I advocate for free trade, the approach,
  • 4. which US’ former president Barack Obama had taken. Free trade can pull any state out of poverty as it can source massive income to a nation from abroad, as well as pushing its businesses towards constant investment, hard work and revolution to grow their international market-share (Tziamalis, 2018). The ideology also applies to industries that do not export, but now require to keep their quality high but their prices low and affordable to beat the inbound competition. As such, other than the protectionist policy, president Trump should consider reverting to the incumbent free trade. The workers and producers do not require any protection from the international competitors, but to improve their game in the foreign trade so that they can be able to compete effectively and attain their sustainability. Among the ways of achieving this milestone include hiring skilled and experienced workers and investing in technology. It is only by doing this that the US businesses will adapt to the evolving economy. Conclusion In conclusion, it is true that protectionism has various advantages. However, it is not safe for the US economy. If America cannot revert to the free trade approach, then its industries will have to improve their performance in the international trade. Only this way, will USA safe its economy from collapsing and adapt to the surfacing economy. References Melgar, N., Baleix, J. M., & Rossi1, M., (2013). Explaining Protectionism Support: The Role of Economic Factors. Hindawi International Scholarly Research Notices. Retrieved https://www.hindawi.com/journals/isrn/2013/954071/ Tziamalis, A., (2018). Explainer: what is protectionism and could it benefit the US economy? The Conversation. Retrieved from http://theconversation.com/explainer-what-is- protectionism-and-could-it-benefit-the-us-economy-73706 National Institute of Economic and Social Research, (2018). How could protectionism affect the US economy? Retrieved
  • 5. from https://www.niesr.ac.uk/blog/how-could-protectionism- affect-us-economy MATH 150 W01 Name ------------------------------ ------------- Exam I Fall, 2018 Dr. Mahmoud 1. Simplify the following expressions. i. ( ) 2 33 8 5 3x y x x y − −
  • 6. ii. 3 1 2 3 2 3 4 4 3 x x y y − −
  • 7. iii. 16 14 64x y = iv. ( ) 6 2 2
  • 8. 2 x y x = + v. 3 4− − − = vi. ( ) 2 3 1 5 (1 )x x x− − − = vii. ( )( ) =3 5 2524
  • 9. yyy viii. ( ) 2 2 3 5x− = 2. Perform the following operations: i. = ++ − − − 34 3
  • 12. + − 4 1 2 1 x x 3. Find the equation for the line with the given properties. Express your answer in point-slope form of the equation of a line. (i) Graphed below. (ii) Perpendicular to the line 12 += xy containing the point )3,1( − .
  • 13. -3 -2 -1 1 2 3 -10 -5 5 10 15 20 4. Determine whether a relation is a function. If the relation is a function, state its domain and range.
  • 14. 5. This exercise assesses your understanding of the definition of a function. i. Sketch a curve in the coordinate plane that is not the graph of a function and justify your answer.
  • 15. ii. Give an example of a function whose domain consists of 5 numbers and whose range consists of 3 numbers. iii. Give an example of a function whose domain is the set of all real numbers and whose 6. Find the domain of the function defined by the following equation:
  • 16. (d) 3)( xxf −= 7. For the functions ( ) 2 4f x x= − and ( ) 3 6g x x= − + , find
  • 17. the following and also find the domain: 8.
  • 18. 9. Which of the following are graphs of functions? In either case, state the domain and range of the relation. Using the definition of a function, state why the vertical – line test works.
  • 19. (a) (b) (c) (d) 10. Given the graph of the function, find each of the following:
  • 20. The zeros of a function: If f (r ) = 0 for a real number r, then r is called __a zero____ of f. 11. For the function g below find the following:
  • 21. 12. Definition: A function is even if, for every number x in its domain, the number – x is also in the domain and f (−x) = f (x). So, in an even function, for every point (x, y) on the graph, the point (-x, y) is also on the graph. Theorem: A function is even if and only if its graph is __symmetric___ with respect to the y- axis Definition: A function is odd if, for every number x in its
  • 22. domain, the number – x is also in the domain and f (−x) = − f (x). So, in an odd function, for every point (x, y) on the graph, the point (-x, -y) is also on the graph. Theorem: A function is odd if and only if its graph is symmetric with respect to the origin 13. Use the definitions of even and odd functions to determine algebraically whether each of the following functions is even, odd, or neither. Then graph to see symmetry.
  • 23. Definitions: A function f is increasing on an open interval I if, for any choice of 1 x and 2 x in I, with 1 x < 2 x we have 1 2 as the values of x get bigger, the values of the function also get bigger. A function f is decreasing on an open interval I if, for any choice of 1 x and 2 x in I, with
  • 24. 1 x < 2 x we have 1 2 as the values of x get bigger, the values of the function get smaller. A function f is constant on an open interval I if, for all choices of x in I, the values of f(x) Are stay the same. 14. Determine where the function is increasing, decreasing, or constant from its graph. (a) Where is the function increasing? (b) Where is the function decreasing?
  • 25. (c) Where is the function constant? 15. For each of the functions in our library, fill in the table of values, graph the function, then complete the table of properties. properties y x= 2y x= 3 y x= y x= 3y x= 1y x = y x= Domain: Range: x-Intercepts y- Intercepts
  • 26. Symmetry: Interval the function is decreasing: Interval the function is increasing: f(x) y x= 2y x= 3 y x= y x= Graph 3y x= 1y x = y x=
  • 27. Graph Piecewise – Defined Functions 16. The function f is defined as (a) Find f (−2), f (1), and f (2) (b) Determine the domain of f.
  • 28. (c) Locate any intercepts (d) Graph f. Function Transformations 17. Using the graph of a parent function and the appropriate transformations, draw the graph of the following function. Make sure you draw all intermediate steps, indicate which transformation was applied and label the coordinates of a relevant point.
  • 30. 18. 19. For each of the following quadratic equations determine their number of solutions (using i. 0232 2 =−+ xx
  • 31. ii. 01 2 =−+ xx Inequalities Involving Quadratic Functions above.
  • 32. Running Head:PROTECTIONISM 1 PROTECTIONISM 6 Topic: Name: Institution: Date: Protectionism is bound to be detrimental to the US economy in the long run Protectionism is the act of a government regulating the presence and operations of foreign companies and organizations operating in their soil in order to shield its domestic industries. Most of the time the regulations are done by imposing high tariffs and levies on foreign companies in order to discourage them from operating in foreign soils. Most of the time
  • 33. protectionism is done in good faith however it always generates a negative ripple effect on the general economy of the country practicing protectionism. It is important that nations protect specific industries however there should be a limit to it in order to ensure the survival of an economy. In relation to economic theories, the Laissez-faire theory is against government interference in the economy more so in capitalistic states (Berend, 2016). Trumps push for the United States of America to practice protectionism might be in response to protect the industries of the nation. Protectionism might be effective for a short duration,however, in the long run, will hurt the nation. Protectionism is bound to create a vicious protectionist cycle in the world What the president and his government should do is to look for ways of reducing fiscal deficits by reducing public spending and increasing revenue. Amando wrote in his article towards the end of 2017 that protectionism is bound to rub off on other nations wrongly more so other economic giants in the world such as china and the UK (Armando, 2017). The most likely reaction to the US’ protectionism is other nations blocking or curtailing the operations of US firms, companies and organizations in their countries. According toLavergne, this would have a negative ripple effect on the US’ economy as the creation of a vicious protectionist cycle (Lavergne, 2014). Not only will it affect the country’s economy but also trade agreements and political environment; inter-political environment will be tense (Watson & James, 2013). Another disadvantage of protectionism is that it impedes the sharing of technology (Demboaur& Stammers, 2018). At the moment, the US is one of the nations that can be categorized in the top ten technological nations of the world. The way technology advancement happens is through the sharing of technology; nations build on other nation’s technological advancement. By advocating for protectionism, other nations become unwilling to share their technological advancement with
  • 34. the US. The US can survive with the technology it has for a limited number of years but with other nations sharing their technologies the US can be more technological advanced (Grundke& Moser, 2016). Different nations have their own specialty and productivity advantages. For example countries in the Middle East are rich in fossil fuel compared to countries from any other part of the world. Asian nations are good at technology. Protectionism impedes the use of other countries advantages and specialty (Wind, 2017). As of the moment, the nation’s automobile industry is moving to eco-friendly technology and by choosing to practice protectionism, the country risks losing the technological specialty that other nations offer in eco-friendly technology. This, in the long run, will affect the automobile industry which in turn will affect the country’s economy. Protectionism is bound to create a lack of competition In relation to the theory of demand, supply and the price mechanism, the price of a commodity determines how much of a product a consumer purchases. By enforcing protectionism, the president and his government are directly doing away with competition thereby doing away with a major regulator of pricing in commodities. When there are many competitors offering similar products, then the price of the commodity is bound to be low. In the US case, protectionism will do away with competition leaving the nation with fewer suppliers of commodities. Due to low supply, the demand of the commodities is bound to shoot which will also bring up the pricing of the commodities(Watson & James, 2013). If the commodities are highly priced then fewer Americans will be able to afford the commodities which will impact the industries. If the industries are crippled then the economy will be crippled as well. Protectionism will lead to unemployment As of the moment, there are many foreign manufacturing companies as well as organizations that have their operations in
  • 35. the US and by enforcing protectionism; the US government indirectly renders many Americans jobless. One of the conditions that foreign manufacturing companies had to meet in order to get their operating licenses was that they employ Americans. By making this companies and organizations close shop, the US government is terminating the services of the Americans working in the companies (Irwin, 2017). Unemployment reduces the purchasing power of those unemployed which in turn affects the GDP and the economy in general. In reference to Melgar, Milgram-Baleix and Rossi, Unemployment pushes people to look for other ways of getting money and some people switch to social vices and crime (Melgar, Milgram-Baleix& Rossi, 2013). An increase in crime rate due to unemployment discourages people from venturing into business; unemployment breeds an unhealthy business environment. Manufacturing workers can use their unions to campaign against protectionism. The can also use their unions to secure them their jobs in the eventuality that protectionism is enforced. Manufacturing workers union can twist the hands of the government to ensure that workers do not lose their jobs should their foreign employers be forced or pushed out of American soil (Thompson, 2017). Conclusion Protectionism is damaging to any country’s economy with the US included. The act of restricting foreign companies from operating in foreign soils is bound to get retaliation from the restricted nations. Foreign nations will not be too eager to import products and services from the US if they believe that the US does not favor their operations in the US. If retaliation takes place then the US will have to depend entirely on its domestic market to push and run its economy. The above is not sustainable for long. Protectionism is not typically good for the economy as it will damage international relations in the process. In addition, it is bound to cause many Americans who rely on foreign organizations operating on American soil to lose their
  • 36. jobs. It is advisable that the government regulates specific industries to allow for the growth of domestic companies as opposed to enforcing protectionism on all the industries in the US. References Armando, M. V. (2017). The impact of the new US foreign trade policies on the economics relations between EU and Mercosur (Doctoral dissertation). Berend, I. T. (2016). An economic history of twentieth-century Europe: economic regimes from laissez-faire to globalization. Cambridge University Press. Dembour, M. B., & Stammers, N. (2018). Free trade, protectionism, neoliberalism: tensions and continuities. London Review of International Law, 6(2), 169-188.
  • 37. Grundke, R., & Moser, C. (2016).Evidence of Hidden Protectionism in the US in the Great Recession. Irwin, D. A. (2017). Peddling protectionism: Smoot-Hawley and the great depression. Princeton University Press. Lavergne, R. P. (2014). The political economy of US tariffs: An empirical analysis. Elsevier. Melgar, N., Milgram-Baleix, J., & Rossi, M. (2013).Explaining protectionism support: the role of economic factors. ISRN Economics, 2013. Thompson, B. (2017). Solving the Corporate Inversion Phenomenon: An Exercise in Free Market Patriotism, Protectionism ThroughFaciliation. The Business, Entrepreneurship & Tax Law Review, 1(2), 657. Watson, K., & James, S. (2013). Regulatory protectionism: A hidden threat to free trade. Wind, S. L. (2017). The Decline of Manufacturing in the US Economy: Impacts of China's ‘Trade Shock’, Trump's Protectionist Tariffs, and the Drivers of Manufacturing Job Losses (Presentation Slides).