Which one of the following was NOT a reason why Brazil's infant industry protection of its personal computer industry was a failure?
a. Imported silicon chips were expensive to obtain.
b. Local regulations limited the entry of new firms in the industry.
c. Domestically produced parts required by the Brazilian PC industry were expensive.
d. The Brazilian government continued to purchase imported PCs.
Ans: d. The Brazilian government continued to purchase imported PCs.
You might also like to view...
Efficiency wage theory provides a reason for uncontracted nominal wages to ________ when nominal aggregate demand falls, thus ________ a recession
A) fall proportionately, leading to B) fall proportionately, preventing C) remain unchanged, leading to D) remain unchanged, preventing
Extraneous events that are completely unrelated to economic fundamentals are called
A) moonbeams. B) black holes. C) sunspots. D) time warps.
Defenders of limits on economic growth are concerned that continued economic growth will eventually:
A. reduce the rate of technological progress. B. make plant and equipment obsolete. C. raise interest rates. D. exhaust natural resources.
A firm is making zero economic profits. From this, we know that
A) the firm is going to go out of business. B) implicit costs are zero. C) the firm is going to stay in business, but will not be able to attract new financial capital. D) the firm will stay in business since it is covering all relevant opportunity costs.