The main problem with using the infant industries argument to justify protecting an industry from foreign competition is that:
a. all industries will claim that they are infant industries in order to gain protection.
b. the protected industry will become too efficient and drive out foreign competition.
c. once in place, it is difficult to remove protection even as the industry matures.
d. it causes the goods that are produced in the protected industry to have lower prices.
e. this policy compromises national security if the infant industry produces military goods.
c
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According to Rosenberg (2004), the U.S. economy between the Civil War and World War II was relatively poor in which of its productive resources?
(a) Land (b) Labor (c) Capital (d) Entrepreneurial talent
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a. True b. False Indicate whether the statement is true or false
If a nation is going to achieve and sustain a high rate of economic growth, it must
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