The infant industry argument is valid when
a. a new industry is suffering financial losses.
b. a new industry is less efficient than foreign competitors.
c. the industry's prospective gains are sufficient to repay the social losses incurred while it is being protected.
d. the industry is not likely to be profitable in the future.
c
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If a increase in income decreases the demand for a good, then the good is a(n)
a. substitute good. b. complementary good. c. normal good. d. inferior good.
All of the following are true about electronic funds transfers except:
A. sometimes involve the Federal Reserve sending electronic images of checks to banks. B. include automated clearinghouse transactions (ACH). C. include credit card payments made online. D. occur when banks or individuals deposit/withdraw from one bank account to another electronically.
A firm's advertising can help rivals
A) if fit focuses on general problem that the product addresses B) if it focuses on a secret ingredient that only this firm possesses C) if rivals do not advertise D) if rivals advertise
Other things being equal, a national health insurance program would
A. generate higher life expectancies and lower infant mortality rates. B. generate lower life expectancies and higher infant mortality rates. C. increase the quality of life. D. increase total health care expenditures.