The infant industry argument suggests that
A) a country requires tariff protection when it has no comparative advantage in the production of any good.
B) a country requires protection against unfair trade practices.
C) an industry may require temporary tariff protection until the industry matures.
D) the industry has no potential and must be protected to survive.
C
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The balance of payments is an accounting statement that shows, between one nation and the rest of the world, the
a. total values of goods, services, and payments flows. b. value of payments flows only. c. value of goods and services flows only. d. value of international investments flows only.
When the marginal tax rate exceeds the average tax rate, the tax is
a. proportional. b. regressive. c. non-egalitarian. d. progressive.
When a monopolist maximizes profit, its marginal cost will
a. be less than its average fixed cost. b. be less than the price per unit of its product. c. exceed its marginal revenue. d. equal its average total cost.
Why does the demand curve for Japanese yen slope down?
What will be an ideal response?