Is the Call for Protection on the Basis of "Infant

question 171

Multiple Choice

Is the call for protection on the basis of "infant industry" valid?

• A)No, because protection has no place in industrial development.
• B)No, protection is always improper.
• C)Uncertain, economic theory has no answer to this question.
• D)Yes, although it can be overstated and abused.

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Definitions:

Regressive

Describing a tax system where the tax rate decreases as the taxpayer’s income increases, placing a larger burden on lower-income individuals.

Taxable Income

Taxable income is the portion of your gross income that's subject to taxes after deductions and exemptions.

Tax Liability

The total amount of tax owed to the government after all deductions, credits, and prepayments have been taken into account.

Tax Refund

The amount of money returned to a taxpayer by the government when the taxpayer's total tax payments exceed their tax liability for a given year.