For each scenario, identify which argument is being used to justify trade protectionism. Politicians in a small nation want to impose tariffs on foreign food because they believe the nation is too dependent on foreign producers. Lobbyists argue that by prohibiting the importation of manufactured goods, the domestic manufacturing industry will create thousands more jobs. Brazil imposes high tariffs for computer imports so small, domestic manufacturers can develop the technology needed to compete with foreign competitors. Lobbyists argue that raising import tariffs on foreign oil will lead to more domestic jobs in the domestic energy industry.

These are the scenarios that we must use to classify the claims:

Explanation:

Politicians in a small nation want to impose tariffs on foreign food because they believe the nation is too dependent on foreign producers. - National Security Argument.

The politicians from the small nation feel that their country's dependence on foreign food is a threat because foreign nations could cut the supply of food (in theory) at any time.

Lobbyists argue that by prohibiting the importation of manufactured goods, the domestic manufacturing industry will create thousands more jobs. - Job Creation Argument.

Lobbysts feel that a national, strong industry is the best way to create jobs. They do not consider the jobs created by export-oriented sectors to be as many.

Brazil imposes high tariffs for computer imports so small, domestic manufacturers can develop the technology needed to compete with foreign competitors. - Infant Industry Argument.

Brazil thinks that competition from abroad is a threat to local industry, and therefore, it should be curtailed in order to allow the local industry to grow.

Lobbyists argue that raising import tariffs on foreign oil will lead to more domestic jobs in the domestic energy industry. - Job Creation Argument.

Again, the lobbysts feel that a national energy industry can create far more jobs than the economic sectors related to the importation of oil industry.

If inflation were 5%, the value of the call in 50 years would be $ 57.33; while if inflation were 10% the value of the call would be $ 586.95.

Explanation:

Given that a telephone call to London that currently would cost $ 5, to determine, if the real price of telephone calls does not change in the future, how much will it cost you to make a call to London in 50 years if the inflation rate is 5% and if inflation is 10%, the following calculations must be made:

5 x 1.05 ^ 50 = X

5 x 11.4674 = X

57.33 = X

5 x 1.1 ^ 50 = X

5 x 117.39 = X

586.95 = X

Therefore, if inflation were 5%, the value of the call in 50 years would be $ 57.33; while if inflation were 10% the value of the call would be $ 586.95.