The infant industry argument says that
A) tariffs should be imposed to allow a new industry in a country to get established.
B) dumping should be allowed in order to establish a presence of an industry that has previously not had a presence in another country.
C) countries should produce and trade goods according to their comparative advantage.
D) imports should target new products from other countries to take advantage of the transmission of new ideas.
Answer: A
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One of the challenges for development economists working in health care is to figure out a way to:
A. force doctors to practice good medicine. B. mandate through government policy that families must make better health care choices. C. increase the frequency of preventative medicine, such as immunizing children. D. have the government get more involved in production of necessary healthcare item.
When the goods of competing companies are identical, consumers have no reason to prefer one product over the other so the demand curve for each manufacturer will be perfectly elastic
a. True b. False Indicate whether the statement is true or false
Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below. Mega Corp: TC = 5,000 + 100Q Big Inc: TC = 4,000 + 200Q If each firm produces 10 units, Mega Corp's total cost will ________, and Big Inc's total cost will be ________.
A. $5,100; $4,200 B. $5,000; $4,000 C. $15,000; $14,200 D. $6,000; $6,000
If net investment is positive, then
A. gross investment is greater than depreciation. B. depreciation is negative. C. gross investment is less than depreciation. D. gross investment equals depreciation.