One of the reasons that import substitution is popular is that
a. there was never any demand for the products in question
b. infant industries would have to compete against global rivals
c. it benefits suppliers to the favored domestic industries
d. it slows down the progression through the production chain
e. the emphasis is on comparative advantage and trade expansion
C
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When the federal government gives a grant to a state or local government without restrictions on use, this is known as
A. revenue sharing. B. block grants. C. endowments. D. tax shelter.
If Congress wanted to counteract the effects of a recession it could
A) increase government purchases. B) increase tax rates. C) increase taxes by a fixed amount. D) decrease defense spending.
To attract more bidders, and more aggressive bidders, to your auction
a. reveal all of the relevant information about the value of the object b. don't allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. do not hold oral auctions
How many workers would the firm hire if the wage rate were $10?
