Which of the following statements best describes the outcomes of protectionism for infant industries?
a. Protectionism for infant industries never imposes costs on domestic users of the product but typically has provided little benefit in the form of stronger, competitive industries.
b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive
industries.
c. Protectionism for infant industries never imposes costs on domestic users of the product and typically has provided much benefit in the form of stronger, competitive industries.
d. Protectionism for infant industries always imposes costs on domestic users of the product but typically has provided much benefit in the form of stronger, competitive industries.
b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive
industries.
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Which of the following statements about a trade bloc is accurate?
A. The gains from a trade bloc are shared equally by each member. B. A trade bloc may lower firms' costs by allowing them to exploit economies of scale. C. Increased competition within a trade bloc can result in higher commodity prices in the domestic markets of the member countries. D. A trade bloc can increase the opportunities for domestic business investments but usually repels foreign direct investments into the member countries.
In a binding situation, the AD curve is vertical.
Answer the following statement true (T) or false (F)
A ____________ is an organization of workers that negotiates with employers over wages and working conditions.
a. guild b. labor union c. professional association d. lobby
Sulfur Dioxide Discharged (Tons)Firm AFirm B10$8,000$9,000910,00012,000815,00018,000720,00027,000628,00037,000Table 16.3Table 16.3 shows the production cost for two utilities at different levels of sulfur dioxide emissions. Assume that the government issued 8 marketable pollution permits to each firm. If Firm B would like to purchase one permit to be able to discharge nine tons of sulfur dioxide, what is Firm B's willingness to pay?
A. $2,000 B. $5,000 C. $6,000 D. $9,000