If the Executives of the U

question 66

Multiple Choice

If the executives of the U.S.silicon-chip industry lobby Congress for protection from imports on the grounds that several thousand workers would lose their jobs if there were a reduction in domestic silicon-chip production, they are using the:

• A) environmental standards argument.
• B) infant industry argument.
• C) job protection argument.
• D) national security argument.

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Definitions:

Domestic Advantage

The competitive edge a company gains by operating within its home country, benefiting from familiar market conditions and regulations.

Comparative Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than its competitors.

Absolute

A term indicating complete or total, often used to signify purity, unconditioned reality, or an unchangeable fact.