The infant-industry argument for tariff protection is that tariffs should be imposed to protect from competition
A) industries that are essential if a country is to become an industrial nation.
B) industries needed for national defense.
C) industries that cannot compete with foreign competitors at this point in time, but will be able to once they gain some size and experience.
D) industries that can compete with foreign competitors at this point in time and are deemed essential by the government.
Answer: C
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A market in which many firms sell identical products is
A) a monopoly. B) an oligopoly. C) only perfectly competition. D) only monopolistic competition. E) both perfect competition and monopolistic competition.
Monopolization of both the labor market and the output market results in
A) higher wages than when both are competitive. B) a higher output price than when both are competitive. C) a lower level of output than when both are competitive. D) All of the above.
An increase in the U.S. price level will increase U.S. net exports
a. True b. False Indicate whether the statement is true or false
When the annual interest rate is 7 percent, what is the present value of receiving a payment of $10,000 three years from now?
a. $10,700.00. b. $10,244.89. c. $9,300.00 d. $8,162.98.