The Industrialization Argument for Trade Protection in Developing Countries Is

question 82

Multiple Choice

The industrialization argument for trade protection in developing countries is based on the assumption that ________.

• A) the protected industry will become competitive over time with economies of scale
• B) unemployment and underemployment exists in rural areas, so little agricultural output is lost as people move into industrial jobs
• C) subsidizing production is a better means of protection than limiting imports
• D) it is better to depend on buying agricultural surpluses from developed countries than to produce these agricultural goods

Understand the various models of leadership skills including those proposed by Katz and Mumford et al.

Identify the components and competencies in Mumford et al.'s skills model of leadership.

Differentiate between technical, human, and conceptual skills according to Katz's model.

Recognize the importance of environmental influences and individual attributes in leadership effectiveness as per the skills approach.

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Definitions:

Self-Employment Tax

This is a charge including Social Security and Medicare dues, principally aimed at those working independently.

Form 1040

Form 1040 is the U.S. federal income tax form used by individuals to file their annual income tax returns with the Internal Revenue Service (IRS).

Schedule SE

The tax form used by self-employed individuals to calculate the taxes owed on net earnings from self-employment.

Deductible Expenses

Expenses that can be subtracted from gross income to reduce taxable income, including certain business, charitable, educational, and medical expenses.