The argument that a tariff has to be imposed in order to protect any industry just getting started until it gets large enough to be competitive internationally is the
A) start-up industry argument.
B) infant industry argument.
C) baby industry argument.
D) fledgling industry argument.
B
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
John takes out a student loan at a bank but spends his money in Las Vegas to play at the casino. This situation is an example of
A) moral hazard. B) moral suasion. C) adverse selection. D) fraud.
Profitable investment is most effectively promoted when:
a. the money supply and price level are stable. b. inflation is rising rapidly c. monetary policy is unanticipated. d. persistent inflation increases uncertainty.
If the 4 largest cell service providers sales make up 56% of total sales in the entire industry, then the industry is considered to be
A. an oligopoly. B. perfectly competitive. C. monopolistically competitive. D. a monopoly.