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Question 1.

The idea that tariffs should be imposed to protect new and developing industries is referred to as

• the new markets theory.

• the start-up argument.

• the infant industry argument.

• the incubator business theory.

Question 2.

The infant-industry argument is often criticized because

• it is difficult to determine which industry merits protection.

• it reduces labor productivity in the short term.

• it reduces the employment rate.

• it reduces government revenues in the short term.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer 1

the infant industry argument.

Answer 2

it is difficult to determine which industry merits protection.
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