The infant-industry argument for tariff protection is that tariffs should be imposed to protect from competition
A) industries that are essential if a country is to become an industrial nation.
B) industries needed for national defense.
C) industries that cannot compete with foreign competitors at this point in time, but will be able to once they gain some size and experience.
D) industries that can compete with foreign competitors at this point in time and are deemed essential by the government.
C
You might also like to view...
Refer to the scenario above. Infi Cor
A) $31 billion B) $21 billion C) $12 billion D) $9 billion
A firm that sought to "maximize market share" would choose to produce an output level for which marginal revenue was equal to
a. marginal cost b. average cost. c. price. d. zero.
If foreigners increase their ownership of U.S. assets, this would help to offset
a. a deficit in the U.S. current account b. a deficit in the U.S. capital account c. a surplus in the U.S. current account d. a surplus in the U.S. capital account e. a surplus in the total balance of payments
When a 2 percent increase in the price of automobiles generates a greater than 2 percent decrease in quantity demanded, then
a. price elasticity of demand for automobiles is less than one b. total revenue increases c. demand is price inelastic d. demand is unit elastic e. total revenue decreases