One argument for trade restriction that focuses on new industries is that
A) trade barriers must be used to protect all domestic workers.
B) tariffs imposed to aid new industries should never be removed.
C) new industries are usually capable of competing with established rivals.
D) new industries need to be shielded in their early stages.
E) trade barriers can be used to enhance national security.
Answer: D) new industries need to be shielded in their early stages.
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Which of the following will happen if the supply of loans increases?
A. The interest rate will rise, and the quantity of money borrowed will decline. B. The interest rate will fall, and the quantity of money borrowed will increase. C. The interest rate will fall, and the quantity of money borrowed will decline. D. The interest rate will rise, and the quantity of money borrowed will increase.
Since the 1980s, the United States has been the dominant net lender in the world.
Answer the following statement true (T) or false (F)
In 2016, the city of Springfield collected $375,000 in taxes and spent $450,000. In 2016, the city of Springfield had a
A. budget surplus of $825,000. B. budget surplus of $75,000. C. budget deficit of $75,000. D. budget deficit of $125,000.
The return to any factor of production that is in fixed supply is called
A. marginal product. B. pure rent. C. demand. D. economic profit.