Some Industries Have Argued That Since Their Output Is Vital

question 31

Multiple Choice

Some industries have argued that since their output is vital for national defense,_____.

• A)they should be entitled to additional trade protection
• B)they should make special deals among themselves and discriminate against outsiders
• C)they are more vulnerable to fiscal deficits
• D)they should be given more time to grow to become competitive
• E)they protect domestic jobs and wage levels

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Definitions:

Conservative Agenda

A political ideology focusing on maintaining traditional values, limited government, and free market principles.

Ronald Reagan

The 40th President of the United States (1981-1989), known for his conservative policies and role in ending the Cold War.

Tax Reform Act

Legislation aimed at altering tax policies, often seeking to adjust rates, broaden the tax base, or simplify the tax code. Specific acts by this name have been enacted in various years in different countries.

Tax Shelters

Financial arrangements made to minimize or avoid taxes through legal means.