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Novosadov [1.4K]
3 years ago
14

The arguments for restricting trade Suppose there is a policy debate regarding the United States’ imposing trade restrictions on

imported tires. Read the following scenario and answer the question that follows. Domestic producers of tires send a lobbyist to the U.S. government to request that the government impose trade restrictions on imports of tires. The lobbyist claims that the U.S. tire industry is new and cannot currently compete with foreign firms. However, if trade restrictions were temporarily imposed on tires, the domestic tire industry could mature and adjust and would eventually be able to compete in the world market.Which of the following justifications is the lobbyist using to argue for the trade restriction on semiconductors? a. Unfair-competition argument b. Using-protection-as-a-bargaining-chip argument c. National-security argument d. Infant-industry argument e. Jobs argument
Business
1 answer:
Ilya [14]3 years ago
7 0

Answer:

Infant-industry argument

Explanation:

Infant-industry argument says that a particular industry can't compete with other international competitors because of the economies of scale. So, they demand a temporary protection until they gain economies of scale to be ready to compete on a level playing field.

Note: This can also come in the category of 'unfair competition' argument as huge economies of scales of well established companies create an unfair environment for nascent industries to compete on a same level.

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3 years ago
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In the current year, Borden Corporation had sales of $2,190,000 and cost of goods sold of $1,295,000. Borden expects returns in
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Answer:

The entries are as follows

To record estimated returns on Sales

Debit: Sales Refund Payable Account $131,400

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Explanation:

To derive the figure for Sales Refund payable for the year

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To derive the figure for Inventory cost on Sales Refund payable for the year

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3 years ago
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2 years ago
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3 years ago
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