Protection of a new industry until it becomes strong enough to compete is called
A) the national defense argument.
B) the government indirect tax argument.
C) the leveling-the-playing-field argument.
D) the infant-industry argument.
Answer: D
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Aid sent to a foreign country is an example of ________
A) transfer payment to the foreign country B) export by the home country C) import by the home country D) factor payment to the foreign country
Countries that impose high tariffs, exchange rate controls, and other barriers that restrict international trade have, on average,
a. high rates of economic growth. b. low rates of economic growth. c. a large export sector. d. a large import sector.
Adverse selection and moral hazard are two different terms that mean essentially the same thing.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 4.3 below to answer the question(s) that follow.
Figure 4.3Refer to Figure 4.3. At an effective price ceiling for pencils,
A. quantity demanded is greater than quantity supplied. B. quantity demanded is equal to quantity supplied. C. quantity demanded is less than quantity supplied. D. price is above equilibrium.