The Argument That a Tariff Has to Be Imposed in Order

question 61

Multiple Choice

The argument that a tariff has to be imposed in order to protect any industry just getting started until it gets large enough to be competitive internationally is the

• A) start-up industry argument.
• B) infant industry argument.
• C) baby industry argument.
• D) fledgling industry argument.

---

Definitions:

Income

The money received by an individual or household, typically on a regular basis, through work, investments, or other sources.

Utility Function

A mathematical representation of how different combinations of goods or levels of consumption affect an individual's level of satisfaction or happiness.

Consumption of Nuts

The act of eating nuts, which are high in protein and healthy fats, as part of a diet.

Consumption of Berries

The act of using or eating berries, which can be analyzed in economics to study preferences or nutritional impacts.