The case of Airbus, an airplane manufacturing consortium in Europe, which receives large subsidies from several European countries, best exemplifies which rationale for protectionist policies?
A) helping domestic firms establish monopolies in world markets
B) shielding workers from foreign competition
C) protecting infant industries
D) prevention of dumping in local markets
A
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Refer to Scenario 12.1. What is the probability of both Simon and Paula trying to rescue the man?
A) 9% B) 21% C) 49% D) 70%
Which of the following statements is FALSE?
A) Saving helps create economic growth. B) Improvements in quality of education are important for economic growth. C) Free international trade helps create economic growth. D) Faster population growth is the key to growth in real GDP per person. E) Economic freedom requires property rights.
The relationship between a firm's price and sales quantity is described by the ______ for its product.
A. demand curve B. supply curve C. marginal cost curve D. average cost curve
If butter is a substitute for margarine, then an increase in the price of butter would be likely to cause
a. a rightward shift in the demand for margarine b. a leftward shift in the demand for margarine c. the quantity demanded of margarine to increase d. the quantity demanded of margarine to decrease e. a decrease in the price of margarine