_______ Refers to the Temporary Provision of Protection to Nascent

question 78

Short Answer

_______ refers to the temporary provision of protection to nascent industries that have good prospects of becoming globally competitive in the medium term.

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Definitions:

Welfare Outlays

Expenditures made by governments aimed at supporting the wellbeing of citizens, including benefits for the unemployed, poor, disabled and elderly.

Discretionary Fiscal Policy

Government policy actions, through spending or taxation, aimed at influencing economic conditions based on current economic assessments.

Budget Deficit

The financial situation where an entity's expenses exceed its revenues within a given timeframe.

Annually Balanced Budget

Budget philosophy prior to the Great Depression; aimed at matching annual revenues with outlays, except during times of war.