Which of the following asserts that import-competing firms that are struggling to stay in business should be provided protection in order to maintain jobs and continue domestic production?
A. The infant industry argument
B. The optimal tariff argument
C. The dying industry argument
D. The developing government argument
Answer: C
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Someone who studies the pricing policies of the Microsoft Corporation would be a microeconomist
a. True b. False Indicate whether the statement is true or false
An upward-sloping line or curve is used to illustrate:
A. a direct relationship. B. an inverse relationship. C. two unrelated variables. D. the ceteris paribus assumption.
Related to the Economics in Practice on page 203: Licenses to sell hot dogs in New York City's Central Park are considerably higher than the licenses to sell hot dogs in the rest of the city. Which of the following statements regarding the above information is true?
A. Despite this, hot dogs are less expensive in New York's Central Park than in the rest of the city. B. Due to this, hot dogs are more expensive in New York's Central Park than in the rest of the city. C. Despite this, hot dogs sell for the same price in New York's Central Park as they do in the rest of the city because the hot dog market is perfectly competitive. D. Despite this, hot dogs sell for the same price in New York's Central Park as they do in the rest of the city because the city regulates the price of hot dogs.
A technological advance in the production of MP3 players will cause the equilibrium selling price to increase.
Answer the following statement true (T) or false (F)