The infant industry argument for protection makes sense if the infant industry is
A. able to compete against foreign firms now, but not in the future.
B. not able to compete against foreign firms now, but will be able to in the future.
C. not be able to compete now or in the future.
D. able to compete now and in the future.
B. not able to compete against foreign firms now, but will be able to in the future.
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________ choose the quantities of goods and services to produce, while ________ choose the quantities of goods and services to buy
A) Households; firms B) Firms; households and the government C) The government; firms D) Firms; only households E) Households; the government
The sign of the elasticity computation is important because the value of the price elasticity can be negative or positive.
Answer the following statement true (T) or false (F)
A bank will charge a higher interest rate the:
A. longer is the length of the loan, and the higher the risk of repayment. B. longer is the length of the loan, and the lower the risk of repayment. C. shorter is the length of the loan, and the higher the risk of repayment. D. shorter is the length of the loan, and the lower the risk of repayment.
Which of the following is NOT one class of a market structure?
A. Perfect competition B. Monopolistic competition C. Monopoly D. Dictatorship