The contention that tariffs should be imposed to protect from import competition an industry that is trying to get started is
A) a basic argument for free trade.
B) the infant industry argument.
C) dumping.
D) a voluntary restraint agreement.
B
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Your friend recently graduated from college and is actively looking for employment. The economy has completely recovered from the last recession and your friend is taking her time, looking for the "perfect" job. In the meantime, the unemployment she is experiencing is categorized as
A) cyclical. B) structural. C) seasonal. D) frictional.
A price taking firm is able to sell its product just slightly above the current market price.
Answer the following statement true (T) or false (F)
Which of the following guarantees the deposits in almost all banks up to a $250,000 limit per account?
a. the Federal Reserve b. the FDIC c. the U.S. Treasury d. Bank of America Corporation
If the demand for a good rises by more than the supply of the good falls, then the good's equilibrium price will __________ and its equilibrium quantity will __________
A) rise; fall B) rise; rise C) fall; fall D) fall; rise