Economists Usually Agree with Which of the Following Arguments That

question 133

Multiple Choice

Economists usually agree with which of the following arguments that favor protectionism?

• A) the competition with cheap foreign labor defense
• B) the job protection defense
• C) the dumping defense
• D) None of the above. Economists generally agree that arguments in favor of protection are flawed.

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Definitions:

Post-Employment Benefits

Benefits, other than pensions, that a company provides to its retired employees, such as life insurance and medical plans.

Compensated Absences

Employee benefits that provide pay for holidays, sick leave, and other forms of absence from service that are compensated by the employer.

AASB 119

The Australian Accounting Standards Board standard which outlines the accounting requirements for employee benefits, including wages, salaries, and pension plans.

Defined Benefit Post-Employment Fund

A pension plan where the benefits that an employee will receive upon retirement are defined in advance.