The argument that calls for the trade protection of only newly developing industries is known as the ________ argument.
A. learning by doing
B. predatory dumping
C. infant industry
D. developing nation
Answer: C
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In the analysis of figure 11.2, discrimination leads to shifts in the demand curve for labor
Indicate whether the statement is true or false
There are two existing firms in the market for computer chips. Firm A knows how to reduce the production costs for the chip and is considering whether to adopt the innovation or not. Innovation incurs a fixed setup cost of C, while increasing the revenue. However, once the new technology is adopted, another firm, B, can adopt it with a smaller setup cost of C/3. If A innovates and B does not, A earns $30 in revenue while B earns $10. If A innovates and B does likewise, both firms earn $20 in revenue. If neither firm innovates, both earn $10. Under what condition will firm B have an incentive to adopt if firm A adopts the innovation?
A. C > 30 B. 10 > C > 0 C. 35 > C > 25 D. C < 30
Refer to Figure 12-1. If the firm is producing 500 units
A) it should maintain its output to maximize profit. B) it is making a profit. C) it is making a loss. D) it should increase its output to maximize profit.
Which of the following statements about the U.S. balance of payments in 2013 is true?
a. In the third quarter of 2013, the services account recorded a deficit of $25 million. b. In the third quarter of 2013, the current account showed a surplus of $174,091 million. c. In the third quarter of 2013, the merchandise account showed a surplus of $179,457 million. d. In the third quarter of 2013, the merchandise account showed a deficit of $179,457 million. e. In the third quarter of 2013, the services account recorded a deficit of $38,175 million.