An Argument Supporting Tariff or Quota Protection for an Industry

question 34

Multiple Choice

An argument supporting tariff or quota protection for an industry is that such protection

• A) is necessary to lower domestic rates of inflation by reducing spending.
• B) enables a nation to have both the goods and the money.
• C) keeps foreigners from benefiting at our expense.
• D) helps to equalize production costs between nations to the benefit of all countries.
• E) can promote industrial diversification and prevent the nation from becoming too dependent on a few industries.

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Definitions:

Organizational Distress

A state in which a company or organization experiences a significant decrease in performance, health, or vitality, often due to mismanagement, external pressures, or internal conflicts.

Participation Problems

Issues or challenges associated with involving individuals or groups effectively in decision-making processes within an organization.

Performance Decrement

A cost resulting from poor quality or low quantity of production, grievances, and unscheduled machine downtime and repair.

Compensation Awards

Payments or benefits given to employees or individuals as recognition for their work, achievements, or to cover costs incurred from injuries or losses.