The idea that tariffs should be imposed to protect new and developing industries is referred to as
A) the start-up argument.
B) the infant industry argument.
C) the incubator business theory.
D) the new markets theory.
B
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Which of the following does NOT shift the supply curve?
A) a technological advance B) a decrease in the wages of labor used in production of the good C) a fall in the price of a substitute in production D) an increase in the price of the good
If people choose to hold some of a newly received loan as cash instead of keeping it in a checking account, _____
a. the money supply will not increase as much as it would had borrowers deposited all of the money b. the money supply will remain unchanged c. the money supply will decrease as much as it would had borrowers deposited all the money d. the banking system will collapse e. the economy will experience a recession