The "Infant Industry" Argument for Tariffs Is Criticized

question 122

Multiple Choice

The "infant industry" argument for tariffs is criticized:

• A)because it is difficult to determine which industries merit protection.
• B)because direct subsidies are probably a better means of stimulating such industries.
• C)because the tariffs may remain after the industry reaches maturity.
• D)for all of the above reasons.

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Definitions:

Atkinson and Shiffrin Model

A theory of memory proposed in 1968, suggesting that memory consists of three stores: a sensory register, short-term memory, and long-term memory.

Sensory Memory

A type of storage that holds sensory information for a few seconds or less.

Long-term Memory

A kind of memory that holds information for a long duration, from several days to many years.

Memory

The cognitive process of encoding, storing, and retrieving information, playing a vital role in learning and consciousness.