The infant industry argument is that:
a. those industries that produce products for infants should be protected.
b. developing industries should be allowed to face foreign competition.
c. protectionism should be used to create a level playing field for the domestic firms to compete with foreign firms.
d. protectionism promotes complete specialization in the country on the basis of comparative advantage.
e. new industries should be protected from foreign competition until they have had adequate time to develop.
e
You might also like to view...
Which of the following is NOT normative economic statement?
A) The minimum wage should be eliminated so unemployment can be reduced. B) Increases in the minimum wage cause increases in unemployment. C) The inflation rate should fall to increase individuals' well being. D) Taxes on cigarettes should be increased to reduce smoking.
Hannah and Marla plan to drive cross-country in Marla’s car after graduation and split the estimated $300 gas costs and 30 hours of driving. Their friend Sarah asks to join the trip and split the costs. Which of the following accurately describes the difference between average and marginal costs of adding a third traveler to the trip?
a. Average costs are increased from $300 to $450; marginal costs are reduced to 10 hours of driving per person. b. Average costs of travel remain the same; marginal costs are increased by Sarah’s share of beverages and snacks. c. Average costs fall from $150 to $100 per person; marginal costs are minimal and offset by Sarah’s help with driving. d. Average costs are increased by adding a third person; marginal costs are unchanged because the car is already going.
If a country's saving rises, then either its investment or its net capital outflow rises (or both)
a. True b. False Indicate whether the statement is true or false
If the safety of the work environment has improved over time
What will be an ideal response?