What is the infant-industry argument for protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage.
B) Any firm necessary in wartime must be protected.
C) Foreign producers selling below cost to drive domestic firms bankrupt must be stopped.
D) Domestic jobs must be protected from competition from low-paid foreign workers.
E) Foreigners selling products in the economy limit the nation's diversity and stability.
A
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Autarky refers to
A) a situation in which there is no trade. B) the equilibrium a nation reaches after trade begins. C) a situation in which nations trade goods and services. D) the location on a consumption possibilities curve.
According to Keynesians, an increase in the money supply will:
a. only increases prices. b. increase the interest rate, and decrease investment, aggregate demand, prices, real GDP, and employment. c. decrease the interest rate, and decrease investment, aggregate demand, prices, real GDP, and employment. d. decrease the interest rate, and increase investment, aggregate demand, prices, real GDP, and employment.
Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism. B. the brain drain. C. Malthusianism. D. outsourcing.
Refer to the information provided in Figure 3.17 below to answer the question(s) that follow.
Figure 3.17Refer to Figure 3.17. In the Rollerblade market, which is not government controlled and is currently at a price of $1,140, you accurately predict that price will
A. decrease, the quantity demanded will rise, and the quantity supplied will fall. B. increase, the quantity demanded will rise, and the quantity supplied will fall. C. decrease, the quantity demanded will fall, and the quantity supplied will fall. D. increase, the quantity demanded will fall, and the quantity supplied will rise.