The Argument That It Is Necessary to Protect a New

question 8

Multiple Choice

The argument that it is necessary to protect a new industry to enable it to grow into a mature industry that can compete in world markets is known as the

• A) national security argument.
• B) diversity argument.
• C) infant-industry argument.
• D) environmental protection argument.
• E) national youth protection argument.

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Definitions:

Demand

The desire to purchase goods and services backed by the ability and willingness to pay a price.

Euros

The official currency of the eurozone, which is used by 19 of the 27 European Union countries.

Downsloping

Describes a line or curve on a graph that proceeds from upper left to lower right, often used in economics to represent the decrease in demand as prices increase.

Foreign Exchange Market

The global marketplace for buying and selling national currencies, determining exchange rates.