Asked by Donald R. Johnson on Jun 14, 2024
Verified
Which of the following arguments for trade protection contends that new domestic industries need support to establish themselves and survive?
A) the increased domestic employment argument
B) the cheap foreign labor argument
C) the diversification-for-stability argument
D) the infant industry argument
Infant Industry Argument
A protectionist stance arguing that emerging domestic industries should be shielded from foreign competition until they become competitive globally.
- Comprehend the arguments for and against trade protection, including the infant industry argument, national security, and employment impacts.
Verified Answer
KL
Katie LuebckeJun 17, 2024
Final Answer :
D
Explanation :
The infant industry argument suggests that new or "infant" industries may initially be unable to compete against established foreign competitors and thus need protection until they become sufficiently established and competitive.
Learning Objectives
- Comprehend the arguments for and against trade protection, including the infant industry argument, national security, and employment impacts.
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