The infant-industry argument about tariffs argues that:
A. it is unfair to levy tariffs on items intended for use by infants.
B. tariffs should be levied on foreign products that compete with new domestic industries only in the short run.
C. if a newly established domestic industry can survive in the short run, a tariff should be levied to protect it from foreign competition in the long run.
D. permanent tariffs should be levied on foreign products that compete with those produced by newly established domestic industries.
Answer: B
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If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%. B. 2.89%. C. 28.95%. D. 0.35%.
When the price of yen in terms of dollars increases, Honda automobiles from Japan become cheaper to U.S. residents.
Answer the following statement true (T) or false (F)
Refer to Exhibit 6-3. What is the random variable in this experiment?
a. the weight of football players b. 200 pounds c. 25 pounds d. the normal distribution
A factor of production that has been produced for use in the production of other goods and services is:
A) labor. B) money. C) capital. D) natural resources.