Is the call for protection on the basis of "infant industry" valid?
a. No, because protection has no place in industrial development.
b. No, protection is always improper.
c. Uncertain, economic theory has no answer to this question.
d. Yes, although it can be overstated and abused.
d
You might also like to view...
Money's function as a medium of exchange means that
A) money is a common denominator for expressing the prices of goods and services. B) money can be used to store wealth. C) money serves as an acceptable means of payment. D) money requires a double coincidence of wants.
The marginal revenue of a price taker is
a. equal to price. b. less than price. c. more than price. d. unrelated to price.
Which concept did Hugo Grotius address and construct in his published work of the 1600s, The Law of War and Peace?
a. international regime b. just war theory c. preemptive attack d. prisoner's dilemma
Nominal GDP includes the current value of services produced in the economy.
Answer the following statement true (T) or false (F)