A new industry develops, and our government wants to protect it from foreign competition. Which one of the following arguments would appropriately describe this type of protection?
A) national security
B) cartelization
C) infant industry
D) protecting American jobs
C
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According to the text, the real source of power in the modern corporation lies with the
a. stockholders b. bondholders c. board of directors d. bankers e. managers
If aggregate spending in an economy can be written as Y = 15,000 + 0.6Y - 20,000r, and potential output equals 35,000, what real interest rate must the Federal Reserve set to bring the economy to full employment?
A. 5 percent B. 4 percent C. 2 percent D. 3 percent
Figure 9.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. The insurance companies estimate that 40% of its customers are high-cost type. If the insurance companies set the price equal to their average cost per customer, what is the insurance companies' average cost per customer ($Y)?
A. $4,000 B. $3,400 C. $2,800 D. $2,000
MPP is the additional output that results from a one-unit increase in use of the input.
Answer the following statement true (T) or false (F)