The Infant Industry Argument Has a Normative Economic Basis Because

question 59

Multiple Choice

The infant industry argument has a normative economic basis because

• A) clearly, all industries need to be protected.
• B) protected industries are selected on a factual basis.
• C) the government must decide which industries should be protected.
• D) political corruption is the only deciding factor.

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Definitions:

Median

A statistical measure representing the middle value in a set of numbers, which divides the data into two equal halves.

Mean

An average of a group of values, computed by dividing the sum of the group of values by the number of values in the group.

Frequency Distribution

A mathematical function showing the number of instances in which a variable attains each of its possible values.

Histogram

A diagram that presents the grouped data from a frequency table.