The Concern That Certain Key Domestic Industries Need to Be

question 16

Multiple Choice

The concern that certain key domestic industries need to be protected with trade barriers is an argument centered on

• A) infant industries.
• B) antidumping.
• C) national defense.
• D) domestic employment.

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Definitions:

R&D Expenditures

Refers to the money spent on research and development activities, aiming at new product development or existing product improvement.

Invention

The act of creating or designing something that did not previously exist, usually a new device, method, or process.

Diffusion

The process by which an innovation or technology is adopted over time among members of a social system, community, or market.

Patent Trolls

Entities that purchase broad patents and use them to sue or threaten companies for patent infringement, often without producing any related products or services themselves.