The infant industry argument is based on the idea of
A) learning-by-doing.
B) absolute productivity advantage.
C) global monopoly.
D) countervailing duties.
A
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Suppose a worker signs a contract containing an 8 percent nominal wage increase with inflation expected to be 3 percent. Inflation turns out to be 6 percent, but the contract also contains 60 percent COLA protection
The worker's real wage under the contract A) falls by 1.2 percent. B) falls by 2.4 percent. C) rises by 3.8 percent. D) rises by 3.0 percent. E) rises by 1.8 percent.
Differentiate between "off-budget" deficit and the "on-budget" deficit
If a local shop buys a used motorcycle for $1,000, makes repairs and refurbishes it, then resells it for $2,500, the
a. shop contributes value added equal to $1,500, but nothing is added to GDP. b. shop contributes value added equal to $1,500, and consequently $1,500 is added to GDP. c. shop contributes nothing to production because only existing goods are involved. d. shop contributes value added equal to $2,500, but only $1,500 is added to GDP.
Deficit financing has been part of U.S. history from the very beginning. The Continental Congress put the country into debt in order to continue its fight for independence from Great Britain. As is done today, Congress issued bonds
What will be an ideal response?