The American Tire Company has been experiencing a steady loss of market over the past 40 years due to imports of lower-priced tires. Which argument would American Tire most likely present to Congress when it lobbies for trade restrictions?
a. infant industry argument
b. declining industry argument
c. national defense argument
d. antidumping argument
e. loss of domestic jobs
B
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Dominant price leadership exists when
A) one firm drives the others out of the market. B) the dominant firm decides how much each of its competitors can sell. C) the dominant firm establishes the price at the quantity where its MR = MC, and permits all other firms to sell all they want to sell at that price. D) the dominant firm charges the lowest price in the industry.
Figure 9-11 illustrates the long-run average total cost curve for a perfectly competitive firm and the short-run average total cost curve (ATC*) for the firm’s current plant size. In the long run, this
a.
firm's plant size is too large to allow it to earn a normal profit
b.
firm's plant size is too small to allow it to earn a normal profit
c.
firm will be able to stay in operation with the same plant size
d.
firm will suffer an economic loss
e.
firm will earn an economic profit
Which is an example of barter?
A. A person trades a desk for a box of tools B. A person buys clothes at a used clothing store C. A gift of tuition money from parents to their children D. The purchase of stock on the New York Stock Exchange
In comparing the traditional way of structuring mortgages and the newer structure of providing mortgages that securitized them and insured those securities with credit-default swaps, it is clear that the ________ structure allowed fewer people to afford homes and that the ________ structure was safer to the health of the overall economy.
A. newer; newer B. traditional; traditional C. newer; traditional D. traditional; newer