Which of the Following Statements Reflects the Belief of the Critics

question 7

Multiple Choice

Which of the following statements reflects the belief of the critics of industrial policy?

• A) The government allocates scarce resources more efficiently than markets.
• B) Industrial policy could evolve into a government giveaway program.
• C) Industrial policy gives domestic industries a competitive advantage over important trading partners.
• D) Industrial policy encourages unfavorable terms of trade with foreign countries.
• E) Industrial policy overprotects domestic producers.

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Definitions:

Tri-country War

A hypothetical conflict involving three distinct nations, often used to describe scenarios in military strategy or historical analysis.

African Slave Labor

The forcible employment of African people, primarily in the Americas, from the 16th to the 19th centuries, under conditions of slavery.

Plantation Labor

Work associated with the operation of large agricultural estates, often involving the cultivation of crops like cotton, sugar, and tobacco, historically reliant on slave or indentured labor.