Recent developments in the world have shown that countries are moving away from free trade towards protectionism. Prominent world economic powerhouses such as the United States of America have been implementing a go-it alone, America-first outlook on trade. This is despite the existence of multinational organizations that are meant to promote free trade among countries in the world. Your country is also currently worried about the negative impact of free trade and is considering introducing new policies to protect the local industry. As a young economist, you have recently been hired in the Ministry of Finance and Economic Development, you have been included in a task team to consider the feasibility of the envisaged policies on international trade. a) Identify and explain the different types of protectionism measures that the government may introduce. (10 marks) b) Discuss the arguments for and against protectionism