The Infant Industry Argument for Protectionism

question 72

Multiple Choice

The infant industry argument for protectionism:

• A) is strong because without it industrialisation is impossible.
• B) often leads to a situation of longer term protectionism than was ?rst envisaged.
• C) over estimates the importance of competition in improving ?rm-level economic e?ciency.
• D) has increasingly been accepted by economists as a necessary evil.

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Definitions:

Territorially Fair

Describes an approach or policy that is equitable and just within a specified geographic area, ensuring fair treatment and opportunities for all residents.

Venue

A requirement distinct from jurisdiction that the court be geographically situated so that it is the most appropriate and convenient court to try the case.

Applicable Law

The set of laws and regulations that are relevant and enforceable in a given legal matter or jurisdiction.

Due Process Requirements

Legal standards that require the government to respect all the legal rights owed to a person according to the law, including fair procedures.