The U.S. military aircraft industry sought protection from foreign competition by using the __________ argument to persuade Congress to impose trade restrictions
a. infant industries
b. diversity of industries
c. retaliation
d. antidumping
e. national security
E
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The U.S. Census Bureau estimates the number of illegal immigrants by subtracting the:
A. Sum of the past annual flows of legal immigrants from the past annual inflows of all immigrants B. Current number of legal immigrants from the current total number of all immigrants C. Current of legal immigrants from the past annual inflows of all immigrants D. Sum of the past annual flows of legal immigrants from the current total number of all immigrants
In the figure above, when the price falls from $5 to $4, the price elasticity of demand is
A) 2. B) 3. C) 0.75. D) 1.5. E) 0.33.
Suppose that Carol owns a property with a mineral spring. It costs zero for Carol to sell water to customers since buyers come to her property and bring their own bottles and fill them themselves. If Carol wants to maximize her profits from the sale of her mineral water, she should choose the output level
A. where the demand curve for water hits the vertical axis. B. where demand is inelastic. C. where demand is unit elastic. D. demand is exhausted.
The elasticity of demand for a particular perfectly competitive firm's output is positively related to the number of firms supplying the market
Indicate whether the statement is true or false