For the Infant-Industry Argument for Tariffs to Be Appropriate, It

question 120

Multiple Choice

For the infant-industry argument for tariffs to be appropriate, it is necessary that

• A) the industry be deemed essential by the government.
• B) the government can identify which industries will eventually be able to compete with more established foreign producers.
• C) only industries that currently are operating efficiently will be protected.
• D) the country has access to the most modern production techniques.

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Definitions:

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Skewed Distribution

A statistical term describing an asymmetry in the frequency distribution of a set of data.

Withdrawals

The act of removing something from a place or instance of no longer participating or being involved in something.

Sampling Distribution

The probability distribution of a statistic (such as the mean or proportion) obtained through repeated sampling from a population.