One problem with the infant industry argument is that
A. it fails to protect domestic industries from foreign competition.
B. it must be approved by the Federal Reserve Board.
C. it must be approved by the IMF and the World Bank.
D. the protection is typically never removed, creating a domestic monopoly.
Answer: D
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Public goods are ________ in consumption
A) excludable but non-rival B) non-excludable and non-rival C) rival but non-excludable D) excludable and rival
If the money multiplier is 10, the sale of $1 billion of securities by the Fed on the open market causes a
A) $10 billion decrease in the money supply. B) $1 billion decrease in the money supply. C) $1 billion increase in the money supply. D) $10 billion increase in the money supply.
Why do opportunity costs primarily differ among nations?
What will be an ideal response?
Suppose Suzanne allocates her spending on apples and bananas according to the rational spending rule. If the price of apples is less than the price of bananas, then at Suzanne's optimal consumption bundle, her marginal utility from apples will be:
A. greater than her marginal utility from bananas. B. equal to zero. C. less than her marginal utility from bananas. D. equal to her marginal utility from bananas.