4. Suppose Representative I. M. Wright delivers a passionate speech at your college on tariffs. He argues tariffs are needed to

a. Protect our young industries.

b. Encourage consumers to buy U.S.-made products because it's patriotic.

c. Protect U.S. jobs and wages.

d. Achieve a favorable balance of trade and balance of payments. Do you agree with Representative Wright? Evaluate each of his major points and decide whether you consider it valid. Be sure to justify your position.