Infant industries are:
a. manufacturing activities that make baby products.
b. industries that cannot currently withstand foreign competition but are expected to grow and mature so that they can compete internationally.
c. industries that can currently withstand foreign competition in the domestic market but are expected to mature into export industries.
d. industries that cannot currently withstand foreign competition in either the domestic or the export market but are expected to mature into multinational firms.
Ans: c. industries that can currently withstand foreign competition in the domestic market but are expected to mature into export industries.
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Oligopolies are difficult to analyze because
A) oligopolies are a recent development so economists have not had time to develop models. B) demand and cost curves do not exist for these types of industries. C) the firms are so large. D) how firms respond to a price change by a rival is uncertain.
Hughes and Cain (2011) suggest that an event or series of events occurring in 1763 doomed British policy. What happened?
(a) A series of oppressive taxes (b) A tightening and more rigorous enforcement of the Navigation Acts (c) A proclamation which limited trans-Appalachian settlement to lands once granted to colonists by crown approval (d) An act that gave the Quebec province all the land west of the Ohio River
How do expectations about the future by households and businesses affect the effectiveness of fiscal policy? Cite examples.
What will be an ideal response?
Combining commercial banking and investment banking in the same organization produces a risk for that organization
A) that must be above that of investment banking. B) that is the same as investment banking, the riskier of the two activities. C) somewhere in between the risk of the two activities. D) that may be below that of commercial banking.