The Contention That Specific Sensitive Domestic Technologies Must Not Be

question 273

Multiple Choice

The contention that specific sensitive domestic technologies must not be traded freely is

• A) a national defense concern.
• B) the infant industry argument.
• C) dumping.
• D) to protect domestic jobs.

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Definitions:

Tax Burden

The total amount of tax paid by individuals or businesses, often expressed as a percentage of income or economic output.

Tax Imposed

A compulsory financial charge or some other type of levy placed upon a taxpayer by a governmental organization.

Less Elastic

Describes a situation where the demand or supply for a good or service is less responsive to changes in price.

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity supplied over a certain period of time, typically upward sloping.