The Rationale for the Infant-Industry Argument for Trade Protection Is

question 65

Multiple Choice

The rationale for the infant-industry argument for trade protection is that ________.

• A)incubator centers in which business, government, and academia cooperate will develop entrepreneurial companies
• B)a country should give one firm in an industry a monopoly status so that it will grow large enough to be competitive internationally
• C)it takes time for an industry to become competitive in world markets, so protection is needed to help this industry pass through the critical period
• D)lower restrictions should be placed on products coming from countries where a government has a large sphere of political influence

Understand the fiduciary responsibilities of nonprofit boards relating to asset management and compliance with legal and ethical standards.

Comprehend the importance of aligning board decisions with organizational values and goals.

Understand the role of external assessments and the practice of independence in nonprofit board governance.

Identify and use appropriate statistical measures to describe data distribution properties.

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Definitions:

Deficits

Occurs when an entity, typically a government, spends more money than it receives in revenue over a specific period, resulting in a shortfall that needs to be financed.

Inflationary Gap

The difference between the actual level of output in an economy and the output level needed to achieve full employment without inflation.

Budget Surplus

A situation where income or revenues exceed expenditures over a specified period of time.

Aggregate Demand

Aggregate demand represents the total demand for goods and services within an economy at a given overall price level and time period.