The Infant-Industry Argument for Tariff Protection Is That Tariffs Should

question 181

Multiple Choice

The infant-industry argument for tariff protection is that tariffs should be imposed to protect from competition

• A) industries that are essential if a country is to become an industrial nation.
• B) industries needed for national defense.
• C) industries that cannot compete with foreign competitors at this point in time, but will be able to once they gain some size and experience.
• D) industries that can compete with foreign competitors at this point in time and are deemed essential by the government.

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Definitions:

Personal Power

The capacity of an individual to influence others and control their own environment, arising from personal attributes and skills rather than formal authority.

Organizational Power

The capacity of individuals or groups within an organization to influence others or control resources.

Expert Power

A form of power that is derived from possessing knowledge, skills, or expertise in a particular area that others need or value.

Referent Power

A form of influence derived from the admiration or respect one has for the influencer, compelling others to follow based on liking or aspiring to be like the person.