The Most Efficient Way to Encourage the Growth of an Infant-Industry

question 62

Multiple Choice

The most efficient way to encourage the growth of an infant-industry is through a

• A) voluntary export restraint.
• B) tariff.
• C) an import quota.
• D) subsidy.

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Definitions:

Mental Set

A framework for thinking about a problem, based on previous experiences and successes, that can both aid and hinder problem-solving.

Heuristic

A heuristic is a problem-solving strategy or technique that employs a practical, non-guaranteed method or shortcut to produce solutions that are not guaranteed to be optimal but are sufficient for the circumstances.

Chess Masters

Highly skilled and experienced chess players who have achieved a high level of mastery and recognition in the game of chess.

Future Moves

Anticipated or planned actions and decisions for upcoming times, often considered in strategic thinking and planning.