Which of the Following Arguments Is Used to Justify Tariff

question 58

Multiple Choice

Which of the following arguments is used to justify tariff protection?

• A) It increases international competition.
• B) It allows more goods and services in the country.
• C) It protects industries needed for comparative advantage.
• D) It protects key industries needed for national security.

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Definitions:

Insurance Settlement

The amount paid by an insurance company to a policyholder or claimant as compensation for a covered loss.

Lump Sum

A single payment made at a particular time, as opposed to a series of smaller payments or installments.

Interest Rates

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Ordinary Annuity

A series of equal payments made at regular intervals, with interest compounded at the end of each period.