"New industries need to be protected or they won't have the opportunity to grow up." This is a statement of the __________ argument for trade restrictions
A) national-defense
B) infant-industry
C) anti-dumping
D) tariff
E) none of the above
B
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According to Martha Olney why did blacks buy on installment at almost twice the rate of whites?
a. Installment contracts were formal and could be used legally for repossession while credit agreements could not. b. Blacks did not like to buy things on credit. c. Blacks were more likely than whites to purchase goods that required installment purchases. d. It was easier for blacks, who tended to have lower income than whites, to pay off their debts on a regular schedule that the installment plans offered.
A market demand curve is
a. the sum of the demand curves of individuals in a market b. the sum of individuals who make demands c. horizontal at the market price d. vertical at the market price e. upward sloping
The idea that MPCs are different in different stages of a person's life is called
a. Keynes's absolute income hypothesis b. Duesenberry's relative income hypothesis c. Friedman's permanent income hypothesis d. the life-cycle hypothesis of consumption e. the consumption function
The prime interest rate usually:
A. rises when the federal funds rate rises. B. rises when the discount rate falls. C. falls when the federal funds rate rises. D. falls when the Fed sells bonds in the open market.