To justify restricting trade, the U.S. broom industry has more reason to use this argument than does the Mexican broom industry
a. retaliation
b. cheap foreign labor
c. national security
d. infant industries
e. diversification
B
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In autarky equilibrium,
A) production equals consumption. B) exports equal imports. C) there is no international trade. D) All of the above.
Before a market allocation of goods on the production possibilities curve can be judged efficient, one must evaluate “what” goods the market produced.
Answer the following statement true (T) or false (F)
In experiments testing game theory, cheap talk does not affect the outcome of a game.
Answer the following statement true (T) or false (F)
The opportunity cost of holding cash in your wallet
A. tends to increase as interest rates decrease. B. is the foregone interest that could have been earned on other assets. C. is zero. D. None of the choices are correct.