In international trade, an infant industry is one:
A. that protects firms that produce products for infants.
B. with a large number of very small firms.
C. in which the firms are experiencing very small profits.
D. in the early stages of its development.
Answer: D
You might also like to view...
If the labor demand curve shifts to the right due to a government policy during a recession, and if wages are flexible, ________
A) real wages will increase B) real wages will decrease C) prices will fall D) unemployment will increase
If the Fed wants to increase the federal funds rate through open market operations, it ________
A) decreases tax rates B) buys bonds C) sells bonds D) increases tax rates
In 2015, JPMorgan Chase announced it was laying off employees. The employees who were laid off due to the business cycle would be considered
A) structurally unemployed. B) seasonally unemployed. C) cyclically unemployed. D) frictionally unemployed.
If the price elasticity of demand is -0.8 and the firm increases price, revenue will
a. Increase b. Decrease c. Stay constant d. become zero, they would lose all their customers