Which of the following asserts that temporary protection from international competition is needed for a nascent industry that initially has high costs?
A. The developing government argument
B. The dying industry argument
C. The optimal tariff argument
D. The infant industry argument
Answer: D
You might also like to view...
The voting members of the Federal Open Market Committee are
A) all of the members of the Board of Governors and five of the presidents of the 12 Federal Reserve banks. B) only the members of the Board of Governors. C) the presidents of the 12 Federal Reserve banks and three members of the Board of Governors. D) all of the members of the Board of Governors and all of the presidents of the 12 Federal Reserve banks.
Middlemen would serve no productive function if
A) information is scarce and transactions costs are zero. B) information is free and transactions costs are significant. C) information is free and transactions costs are zero. D) people only purchased what they need, rather than what they want.
Should autonomous consumption rise by one dollar, the effect of this on equilibrium income can be offset if net taxes are
A) raised by one dollar. B) lowered by one dollar. C) raised by c dollars. D) lowered by c dollars. E) raised by (1/c) dollars.
An externality occurs when: a. people other than those making the demand and supply decisions share the benefits or the costs of an activity. b. only the people making the demand and supply decisions share the benefits or the costs of an activity
c. private costs of production equal the full social costs associated with production of a good. d. private costs of production are ignored.