Some economists suggest the optimal way for a nation to protect its access to a strategic mineral is with
A) an infant industry tariff.
B) a high rate of effective protection to keep local mines in business.
C) a quota on imports of the mineral.
D) a stockpile.
D
Economics
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Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:
A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.
Economics
All else held constant, an increase in foreign imports of cameras would cause the supply of cameras in the United States to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
Economics