Which of the following types of income is often referred to as passive income? a) Sales from a t-shirts sold at a retail store b) Fundraising event for a nonprofit c) Profits made from a carwash business d) Interest made from a business saving account

Infant-industry argument

Explanation:

The lobbyist is using theinfant­-industry argument to justify trade restrictions on ball bearings. The lobbyist claims that the domestic semiconductor industry is new and cannot currently compete with foreign firms—in other words, the U.S.semiconductor industry is an infant industry. The lobbyist would like temporary trade restrictions imposed on semiconductors so that the domestic producers can learn and adjust their production techniques.

This will allow the industry to mature and no longer be an infant industry. At that point, the industry will no longer need trade restrictions because domestic producers will be able to compete against foreign producers in the world market.