A basic problem with the infant-industry argument is that:
a. most industries need protection when they are mature, not when they are first established.
b. the amount of the tariff is unlikely to have much impact on the success of an infant industry.
c. political pressure will likely prevent the withdrawal of the tariff when the industry matures.
d. domestic consumers will continue to buy the foreign products anyway, regardless of the tariff.
c
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Accounting profit minus implicit costs equals:
A. explicit costs. B. economic profit. C. fixed costs. D. total revenues.
An increase in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point inside the frontier
Indicate whether the statement is true or false
Nick owns a dog whose barking annoys his neighbor Jane. Suppose that the benefit of owning the dog is worth $500 to Nick, and that Jane bears a cost of $700 from the barking. Assume that the city has no ordinance against barking dogs. A possible private solution that would benefit both parties is for: a. Jane to pay Nick $450 to get rid of the dog
b. Nick to pay Jane $650 for her inconvenience. c. Jane to pay Nick $650 to get rid of the dog. d. There is no private solution that would improve this situation for both parties.
A policy can be defined as a _____________ action course that serves as a guide for the identified and accepted objectives and goals
a. predefined b. flexible c. necessary d. unkown