An argument in favor of protective tariffs is the

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Chapter 20 / Exercise 1
Microeconomics
Arnold
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48. An argument in favor of protective tariffs is the "infant-industry argument," which states that:A. any industry dealing with products for infants should be protectedB. infant-industries need government loans*C. infant-industries should be protected by tariffs from established foreign competitionD. infant-industries should be exempt from antitrust lawsE. infant-industries should be able to form monopoliesTitle: ANSWER: B REFERENCE: Barriers to Trade LEARNING OUTCOME: 3
49. The _____ is a protectionist argument that says the U.S. should use tariffs to keep foreign labor from taking away U.S. jobs.
50. Which of the following is NOT an argument for tariffs that protect domestic businesses and workers?
51. Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following isNOT a tool aimed at restricting trade?
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Microeconomics
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Chapter 20 / Exercise 1
Microeconomics
Arnold
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Title: ANSWER: C REFERENCE: Barriers to Trade LEARNING OUTCOME: 352. _____ are limitations on the quantity of certain types of goods that can be imported over a period of time.A. Export quotasB. Subsidies*C. Import quotasD. Embargo levelsE. TariffsTitle: ANSWER: E REFERENCE: Barriers to Trade LEARNING OUTCOME: 3 RATIONALE: Import quotas are limitations on the quantity of certain types of goods that can be imported over a period of time.
53. A recent regulation enacted by the Commission for Protective Trade Measures in Russia limits the amount of poultry meat that can be brought into the country and sold in the country each year to 1.05 billion tons. Russia is using a(n) _____ to protect its domestic poultry industry.
Title: ANSWER: A REFERENCE: Barriers to Trade LEARNING OUTCOME: 354. A total prohibition against importing certain products is called a(n):

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