A new domestic industry with potential economies of scale is called an infant industry.
a. true
b. false
Ans: a. true
You might also like to view...
What is the difference between a normal good and an inferior good. Give an example of each
What will be an ideal response?
A cost imposed on someone who is neither the consumer nor the producer is called a
a. corrective tax. b. command and control policy. c. positive externality. d. negative externality.
As a measure of economic welfare, GDP underestimates a country's production of goods and services when there is an increase in
A) the production of military goods B) the productions of antipollution devices C) crime prevention services D) household production E) legal services
Countries such as the United States that have large populations tend to have
A) higher trade-to-GDP ratios. B) lower trade-to-GDP ratios. C) relatively greater capital outflows. D) relatively smaller capital outflows.