Which of the Following Is Not an Argument Used in Favor

question 58

Multiple Choice

Which of the following is not an argument used in favor of protectionism?

• A) To protect an "infant" industry.
• B) To protect domestic jobs.
• C) To preserve national security.
• D) To protect against "unfair" competition because of cheap foreign labor.
• E) To reduce prices paid by domestic consumers.

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Definitions:

Rules Of Thumb

Simple, practical guidelines or principles derived from experience and used to make decisions or solve problems quickly.

Randomness Error

The tendency for people to believe they can predict the outcome of chance events based on false information or superstition.

Projection Bias

The inclination to believe other people think, feel, and act the same way we do.

Satisficing

A decision-making strategy that aims for a satisfactory or adequate solution, rather than the optimal one.