A Possible Drawback to the Essential Industry Argument for Import

question 70

Multiple Choice

A possible drawback to the essential industry argument for import protectionism is ________.

• A)that such protection hurts the protecting country's balance of payments
• B)in times of military emergency, almost any product could be considered essential
• C)other countries find supplies elsewhere
• D)unemployment increases in the protecting country

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Definitions:

Nth Partial Sum

The sum of the first n terms of a sequence, often used in the context of series.

Increasing Salary

A situation where an individual's income grows over time, reflecting raises, promotions, or other incentives.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis, and is responsible for keeping and interpreting financial records.