Which two of the following arguments are most likely to be used to justify protectionism?

1. To protect high cost domestic industries
2. To protect strategically important industries
3. To protect industries which are still immature
4. To maximise government tax revenue
5. To protect environmental standards

1. (d) and (e)
2. (a) and (b)
3. (c) and (d)
4. (b) and (c)

Correct answer: (D)

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