Industrial policy is an effort by a government to:
A. identify the most profitable industries in the world, and adopt them in their country.
B. control markets that are industrial.
C. regulate prices in particular industries.
D. favor some industries over others.
Answer: D
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A decrease in the quantity supplied is represented by a
A) movement down the supply curve. B) movement up the supply curve. C) rightward shift in the supply curve. D) leftward shift in the supply curve.
In the short run, a perfectly competitive firm NEVER
A) earns an economic profit. B) incurs a loss greater than its total fixed costs. C) produces where MR = MC. D) earns a normal profit.
What does the slope of the budget line equal?
What will be an ideal response?
Briefly explain the similarities and differences of decision making by the market sector and the public sector
What will be an ideal response?