Which of the Following Arguments for Protection Is Derived from the Fact

question 57

Multiple Choice

Which of the following arguments for protection is derived from the fact that funding of public goods in some countries is difficult given little or no means to collect income or sales taxes?

• A)The developing government argument
• B)The infant industry argument
• C)The dying industry argument.
• D)The national defense argument.

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Definitions:

Financial Statement

A financial statement is a formal record of the financial activities and position of a business, person, or other entity, detailing earnings, expenditures, assets, liabilities, and equity at a specific point in time.

Permanent/Temporary

Classification of accounts where permanent accounts represent balance sheet items carried over multiple periods, and temporary accounts are income statement items closed at the end of each period.

Normal Balance

The side of an account (debit or credit) on which increases to the account are recorded, determined by the account type.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity over a period of time.