If an established domestic industry is in jeopardy of being displaced by lower-priced imports, there could be a rationale for
a. permanent import restrictions to prevent the decline of the domestic industry
b. temporary import restrictions to allow the orderly adjustment of the domestic industry
c. permanent import restrictions based on the infant industry argument
d. temporary import restrictions based on the infant industry argument
e. temporary import restrictions that will be replaced by permanent tax breaks for the domestic industry
B
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The legal system in the United States tends
A) to support monopolies. B) to actively discourage unionization. C) to discourage the entry of new firms into industries. D) to promote competition.
A mechanism for reallocating risk is:
A. risk premiums. B. dividend pooling. C. diversification. D. All of these are mechanisms for reallocating risk.
When the production possibilities curve is bowed out, resources are:
a. equally well-suited to production of both goods. b. not being used efficiently. c. not equally suited to the production of both types of goods. d. increasing as more of one good is produced. e. of an inferior quality.
Economists generally consider the use of taxes as the most efficient way of solving pollution problems
a. True b. False Indicate whether the statement is true or false