A basic problem with the infant-industry argument is that:
a. most industries need protection when they are mature, not when they are first established.
b. the amount of the tariff is unlikely to have much impact on the success of an infant industry.
c. political pressure will likely prevent the withdrawal of the tariff when the industry matures.
d. domestic consumers will continue to buy the foreign products anyway, regardless of the tariff.
c
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Suppose the price elasticity of demand for iPods is inelastic. What would you expect about the demand elasticity for workers producing iPods? Explain
What will be an ideal response?
Data on per capita energy use in the United States since 1950 show that it has:
A. Continually increased B. Continually decreased C. Increased and then leveled off D. Decreased and then leveled off