One problem with the infant industry argument is that
A) the protection is typically never removed, creating a domestic monopoly.
B) it fails to protect domestic industries from foreign competition.
C) it must be approved by the IMF and the World Bank.
D) it must be approved by the Federal Reserve Board.
A
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Aggregate expenditure is total
A. value added in the economy. B. income of households, businesses, governments, and foreigners. C. spending on final goods and services. D. revenue from the sale of goods and services.
Firms that can effectively price discriminate
A) can be either perfectly competitive firms or monopolies. B) can prevent the resale of their products. C) have only one class of buyers, buyers willing to pay a high price. D) Both answers A and B are correct. E) Both answers A and C are correct.
The period between a business cycle peak and a business cycle trough is called
A) recalculation. B) recession. C) diffusion. D) expansion.
In the Microsoft case, the company was accused of violating that law the prohibits
A. firms from attempting to undercut competitors' prices. B. firms from successfully achieving monopoly status. C. firms from using their monopoly in one market to increase market share in another. D. charging prices that are unfairly too high.