If the Executives of the U

question 205

Multiple Choice

If the executives of the U.S.silicon chip industry lobby Congress for protection from imports on the grounds that the military should have an unrestricted domestic supply of silicon chips,they are using the _____ argument.

• A)infant industry
• B)job creation
• C)national security
• D)model industry

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Definitions:

Proprietor's Income

Income earned by the owner of a sole proprietorship from the business's net earnings.

Wages and Profits

The income earned by workers and the revenue earned by owners or shareholders from their investment, respectively.

Interest and Profits

The returns on investment from lending money and the surplus revenues from successful business operations, respectively.

Resource Suppliers

Entities or individuals that provide the essential inputs required for the production of goods and services, such as labor, raw materials, and capital.