Which of the Following Is by Far,the Oldest Economic Argument

question 150

Multiple Choice

Which of the following is by far,the oldest economic argument for government intervention into the free flow of trade?

• A)Impoverished industry argument
• B)Infant industry argument
• C)Sick industry argument
• D)National security-related industry argument

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Definitions:

Culture

The shared values, norms, behaviors, and material objects that constitute a people's way of life.

Split Labor Market Theory

A theory that explains racial and ethnic conflict in the labor market as a result of divisions among workers based on differences in price of their labor.

Racist Attitudes

Prejudices or discriminatory beliefs based on the concept of race, where individuals or groups are treated differently based on perceived racial differences.

High-Wage Workers

Employees who receive compensation significantly above the average for their profession or region.