The practice of imposing import restrictions to protect a newly developing domestic economy typically results in:
a. a rapid improvement in the standard of living.
b. expanded trade relations with other nations.
c. lower prices of domestic products.
d. allocation of resources away from the primary products.
e. greater cost efficiency in domestic production.
d
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Suppose the production function for a certain device is q = L + K. If neutral technical change has occurred, which of the following could be the new production function?
A) q = L + 5K B) q = 5 ? (L + K) C) q = 5L + K D) All of the above are possible.
In a perfectly contestable market in the long run, each firm
A. produces at the minimum point on its long-run average total cost curve. B. earns a profit below its opportunity cost of capital. C. avoids making capital expenditures. D. All of the responses are correct.
Susan is planning to invest in one of four stock portfolios, and her financial advisor has given her details regarding the risk associated with each portfolio. Which of the following portfolios would you expect to have the lowest average annual rate of return?
a. A portfolio with a standard deviation of 3%. b. A portfolio with a standard deviation of 6%. c. A portfolio with a standard deviation of 9%. d. A portfolio with a standard deviation of 12%.
In short-run macroeconomic equilibrium
What will be an ideal response?