Which of the following statements best describes the outcomes of protectionism for infant industries?
a. Protectionism for infant industries never imposes costs on domestic users of the product but typically has provided little benefit in the form of stronger, competitive industries.
b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive industries.
c. Protectionism for infant industries never imposes costs on domestic users of the product and typically has provided much benefit in the form of stronger, competitive industries.
d. Protectionism for infant industries always imposes costs on domestic users of the product but typically has provided much benefit in the form of stronger, competitive industries.
b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive industries.
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Use the following graph of demand curves to answer the next question. 
For a given change in supply, which demand curve is going to yield the largest change in quantity demanded?
A. D1 B. D3 C. D4 D. D5
If the world terms of trade for a country are somewhere between the domestic cost ratio of H and that of F, then
A) country H but not country F will gain from trade. B) country H and country F will both gain from trade. C) neither country H nor F will gain from trade. D) only the country whose government subsidizes its exports will gain. E) country F but not country H will gain from trade.
A tax cut will unambiguously lower income-tax revenue
Indicate whether the statement is true or false
Using real GDP to compare the level of economic well-being in two countries may be misleading because the value of ________ contributes to economic well-being, but is excluded from real GDP.
A. formal education B. leisure C. services D. capital goods