Protection provided to the infant industries is rarely withdrawn because:
a. the costs of withdrawing protection outweigh the benefits.
b. the industries begin to experience diseconomies of scale.
c. it leads to a loss of government revenue.
d. the industries produce goods which are close substitutes of the imported goods.
e. the larger and more successful the industry becomes, the more political power it wields.
e
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Human capital is acquired
A) only in school. B) only through on-the-job training. C) only through job experience. D) through schooling, job training, and experience. E) only at birth, that is, it's people's inborn talents.
Which of the following taxes tend to make income distribution in the United States more equal?
a. sales (i.e., excise) taxes b. personal income taxes c. payroll taxes d. All of the above are correct.
Which of the following approaches will help traditional American companies operating in countries like China to protect intellectual property rights?
A. avoiding negotiation and alternative dispute resolution B. complaining to the U.S. government and World Trade Organization C. expecting the home country to actively police their intellectual property D. using IP without registering it with the appropriate agencies in United States E. not engaging local representation
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy was to engage in free trade, the good would:
A. not be imported or exported and only be produced domestically. B. no longer be produced domestically. C. be imported. D. be exported.