If supporters of restrictions on imports argue that protection is needed to preserve a strategic industry, which of the following is being used?
A) Protecting national culture argument
B) Infant-industry argument
C) Save domestic jobs argument
D) National security argument
E) Dumping argument
D
You might also like to view...
What would be an example of a consumption service?
A) Jake buys an iPhone. B) The local driver's license office purchases a new digital camera and printer. C) Rhianna gets a haircut. D) Donald Trump purchases furniture for his office. E) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
Which of the following markets has a single firm?
A) Perfect competition B) Monopolistic competition C) Monopoly D) Oligopoly
Ronald Coase was awarded the 1991 Nobel Prize in Economics primarily for addressing problems related to externalities. Which of the following describes Coase's work?
A) Coase argued that government intervention is necessary to achieve economic efficiency in markets that are affected by externalities. B) Coase proved that a competitive market achieved a greater degree of economic efficiency than a non-competitive market when externalities occur. C) Coase proved that economic efficiency cannot be achieved in a market that is affected by positive or negative externalities. D) Coase argued that under some circumstances private solutions to the problems of externalities will occur.
Which of the following is a factor of production that generally is fixed in the short run?
A) a factory building B) water C) raw materials D) labor