A rationale used for tariff protection by some is that
A) the country wants to practice international price discrimination.
B) the country finds its cost of producing their products higher than in other countries.
C) imports are produced by firms that received subsidies from their governments.
D) imports are produced by firms that are more efficient than domestic producers are.
C
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A country can gain by importing a good that it can make itself if
A. this enables the country to make another good in which it is extremely efficient. B. it has an absolute disadvantage in the good. C. this permits the country to establish comparative advantage in the good. D. All of the above are correct.
The definition of poverty in the United States is
A. a level of income below the minimally acceptable annual food budget of a family of a given size times four. B. a level of income below the minimally acceptable annual food budget of a family of a given size times three. C. unwholesome living conditions. D. a level of income below the median income for all families.