The Contention That Tariffs Should Be Imposed to Protect from Import

question 72

Multiple Choice

The contention that tariffs should be imposed to protect from import competition an industry that is trying to get started is

• A) a basic argument for free trade.
• B) the infant industry argument.
• C) dumping.
• D) a voluntary restraint agreement.

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Definitions:

Negative Caricatures

These are exaggerated or distorted representations, often in media or discussion, that cast individuals or groups in a negative light.

Enterprising

Characterized by taking on new ventures with innovation and risk-taking, often leading to business creation and growth.

Transformational Change

A profound or radical change that fundamentally alters the culture, values, and operations of an organization leading to significant improvements.

Entrepreneurial Activity

The actions related to starting and managing new ventures, including innovation, risk-taking, and resource management.