Refer to Scenario 14.1. Marco's dominant strategy is to schedule ________, and Lisette's dominant strategy is to schedule ________,
A) 1 visit; 1 visit
B) 1 visit; 2 visits
C) 2 visits; 1 visit
D) 2 visits; 2 visits
A
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The main problem with using the infant industries argument to justify protecting an industry from foreign competition is that
a. all industries will claim that they are infant industries in order to gain protection b. the protected industry will become too efficient and drive out foreign competition c. once in place, it is difficult to remove protection even as the industry matures d. it causes the goods that are produced in the protected industry to have lower prices e. this policy compromises national security if the infant industry produces military goods
The Fed's quick response to the threat to the economy after September 11, 2001, makes a strong case for
a. a rules-based monetary policy regime. b. a discretionary-based monetary policy regime. c. the superiority of fiscal policy. d. the dominant role of Congress in activist policy.
Which of the following statements about a tariff and a quota is true?
A) With a tariff the government collects revenues, but not with a quota. B) With a quota the quantity of imports falls, but not with a tariff. C) With a tariff the domestic price of the good increases, but not with a quota. D) With a quota the domestic production of the good increases, but not with a tariff. E) all of the above
A firm that is NOT maximizing profits
A. is likely to face legal prosecution from the Department of Commerce. B. may find it difficult to raise financial capital from external capital markets. C. would never be able to operate in the United States. D. must not be owned by stockholders.