Which of the following is an effective counter argument to the claim that protectionism saves domestic jobs?
A) Protectionism eliminates domestic jobs in export industries.
B) Imports create jobs in this country for people selling and servicing imported items.
C) The cost of saving domestic jobs through protectionism may be high.
D) all of the above
D
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Give an appropriate remedy for correcting excessive pollution and note any difficulties in implementing it
The George Stigler quote, "...the degree of ‘market failure' for the American economy is much smaller than the ‘political failure' arising from the imperfections of economic policies ...". illustrates the advantage of which type of public policy toward monopolies?
a. antitrust laws b. regulation c. public ownership d. "do nothing"
Heterogeneity and the dynamic nature of labor markets are the principal causes of ________ unemployment.
A. frictional B. structural C. cyclical D. chronic
Answer the following statement true (T) or false (F)
1) Homogeneous oligopolists tend to advertise more than do differentiated oligopolists. 2) Oligopolists use limit pricing to maximize short-run profits. 3) Both collusive and noncollusive oligopoly models suggest that price changes will be relatively infrequent in these types of industries. 4) Collusion among firms always involves formal agreements. 5) Firms are more likely to collude when the economy is in a recession.