The National Defense Argument Has Been Used in the Past

question 58

True/False

The national defense argument has been used in the past to justify trade restrictions by firms in the peanut industry and the pottery industry.

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Definitions:

Past Practice

A term used in labor relations to refer to a customary practice that, over time, has become an accepted way of doing things despite not being formally written into a contract.

Arbitrators

Neutral third parties chosen to settle disputes outside of court, whose decisions are typically binding.

Arbitration Case

A legal dispute that is resolved outside of court by an arbitrator, whose decision is typically binding on both parties.

Turnover

The rate at which employees leave a business and are replaced by new employees, which can affect organizational performance and continuity.