The infant-industry argument for trade protection holds that an industry needs government protection from imports until it becomes competitive enough in world markets.
a. true
b. false
a. true
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Based on this information, what would be the national standard for an allocatively efficient abatement?
Hypothetically, suppose a recent study of hazardous waste abatement (A) arrives at the following national estimates for abating chemical solvents: MSB = 100 – 0.75A and MSC = 20 + 0.50A, where A is measured in millions of tons per year, and costs are measured in millions of dollars.
If a firm is producing at its minimum efficient scale, increasing its output slightly will lead to diseconomies of scale
a. True b. False
Holding the nonprice determinants of demand constant, a change in price would
a. result in either a decrease in demand or an increase in demand. b. result in a movement along a stationary demand curve. c. result in a shift of supply. d. have no effect on the quantity demanded.
It is difficult to engage in long-term financial planning when inflation is:
A. high and erratic. B. low and stable. C. predictable. D. accounted for through indexing.