How can government best promote domestic industry?

What will be an ideal response?


The key here is to choose positive steps - R&D, training, promoting competition - as opposed to restrictive steps that favor particular firms and create monopolies.

Economics

You might also like to view...

Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn02400480301802036060120402409060601201200800Giovanni's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn. Jorge's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.

A. 1/6, 1/2 B. 6,2 C. 1/2,1/6 D. 2,6

Economics

Explain how automatic stabilizers work

What will be an ideal response?

Economics

If aggregate demand decreases and neither short-run nor long-run aggregate supply changes, then

A) the price level increases in the short-run and decreases in the long run. B) there is an inflationary gap. C) there is a recessionary gap. D) in the long run, the long-run aggregate supply will decrease.

Economics

An insurance policy is a product that:

A. involves a company paying individuals very large sums of money if they encounter any risk. B. involves individuals paying a regular fee in return for an agreement that the insurance company will cover all expenses associated with risky behavior. C. involves individuals paying a company to ensure they don't experience any risk. D. allows people to pay to reduce uncertainty in some aspect of their lives.

Economics