To Make a Correct Decision About Limiting Imports on Behalf

question 114

Multiple Choice

To make a correct decision about limiting imports on behalf of an infant industry, a government should look at:

• A) political pressure from key constituents.
• B) a cost-benefit analysis measuring the present value of the likely benefits from lower production costs compared with the cost to society of higher prices in the present.
• C) the value of retaining jobs versus the small cost of higher-priced units.
• D) the difficulty of keeping out imports from established trading partners and weighing the number of workers employed in the industry that could not easily get other jobs.

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Definitions:

High Conscientiousness

A personality trait characterized by thoroughness, carefulness, and efficiency.

Friendliness

A trait characterized by being kind, pleasant, and supportive towards others.

Interpersonal Domain

The interpersonal domain encompasses aspects of psychology that involve social interaction, relationships, and the influence of others on an individual's behavior and mental processes.

Achievement-Related Domain

A field or area of activity where the accomplishment or mastery of specific tasks is a primary goal.