Why is it impossible that all industries in a developing country qualify as infant industries?
(a) You cannot have a comparative advantage in everything.
(b) You cannot have an absolute advantage in everything.
(c) This would violate international law.
(d) This would reduce the terms of trade.
A
You might also like to view...
A good is nonrivalrous in consumption if
A. its consumption by one person does not reduce its consumption by others. B. its consumption by one person reduces its consumption by others. C. it is possible, or not prohibitively costly, to exclude someone from receiving the benefits of the good once it has been produced. D. it is impossible, or prohibitively costly, to exclude someone from receiving the benefits of the good once it has been produced. E. a and d
"When economies experience high levels of inflation, the ability of money to act as a unit of account diminishes, and it becomes harder to make decisions." Which of the following costs of inflation does this statement describe?
a. Menu costs b. Shoe-leather costs c. Unit-of-account costs d. Time costs
Which of the following is most likely to help the residents of a nation produce more goods and services and achieve higher income levels?
What will be an ideal response?
Who belongs to unions? Answer in terms of the types of industries and occupations, and the personal characteristics of workers
What will be an ideal response?