Which of the following is the most accurate statement?
a. Protection is necessary in order for young industries to grow up and be successful.
b. Protection is not necessary for an industry to grow.
c. Protection is necessary because if young industries are not protected, they may suffer losses.
d. Protection may not always be necessary for infant industries, but it has proven to be useful in most cases.
b
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A dynamic decision is one that
A) is made very quickly. B) involves only the present. C) involves only the future. D) involves planning over more than one time period.
A sin tax is an example of:
A. a tax that increases the efficiency of a market. B. a Pigovian tax. C. government policy increasing total surplus in a market. D. All of these statements are true.
Structural stagnationists argue that unconventional monetary policy tools were necessary to restore order in the banking system.
Answer the following statement true (T) or false (F)
Studies show that the demand for gasoline is:
A. price inelastic in the short run but elastic in the long run. B. price inelastic in both the short and long run. C. price elastic in the short run but inelastic in the long run. D. price elastic in both the short and long run.