8. The least applicable argument for protecting American industry from foreign competition would be the argument. (LO4) a) national security c) low-wage b) infant industry d) employment 9. Imports would be lowered by L. (L05) a) tariffs only b) import quotas only c) both tariffs and import quotas d) neither tariffs nor import quotas 10. Of these three choices-tariffs, quotas, and free trade-economists like the most and the least. (LO5) a) tariffs, quotas d) free trade, quotas b) tariffs, free trade e) quotas, free trade c) free trade, tariffs f) quotas, tariffs