Suppose There Is a Policy Debate Over Imposing Trade Restrictions

question 186

Multiple Choice

Suppose there is a policy debate over imposing trade restrictions on imported semiconductors in the United States. A congresswoman argues that it is necessary to impose trade restrictions, such as tariffs, on the semiconductor industry to protect workers in the domestic semiconductor industry. The congresswoman claims that without trade protection, there will be layoffs, causing many U.S. workers in the semiconductor industry to be unemployed. She is basing her preference for trade restrictions on the _____

• A) infant industry argument.
• B) declining industries argument.
• C) national defense argument.
• D) jobs and income argument.
• E) antidumping argument.

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Definitions:

Statement of Cash Flows

An accounting statement reflecting how shifts in balance sheet entries and earnings affect cash and cash equivalents, separated into areas of operating, investing, and financing.

Operating Activity

Activities directly related to the primary operations of a company, generating the main source of revenue and expenses.

Liability Section

A portion of the balance sheet that lists a company's obligations and debts, including both current and long-term liabilities.

Accounts Receivable

Accounts receivable are amounts owed to a business by customers for goods or services delivered but not yet paid for.