Which of the following is not a not-for-profit institution?
a. Columbia Broadcasting System (CBS)
b. American Red Cross
c. Salvation Army
d. a public library
e. a typical college or university
A
Economics
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What happens when wages are set above the equilibrium level by law?
What will be an ideal response?
Economics
An assumption behind the infant industry argument for tariff protection is that
A) foreign competitors are selling output below average cost. B) the domestic industry will be facing an upward adjustment in its average cost. C) the domestic industry will eventually gain comparative advantage in producing the good. D) the market needs additional competition to satisfy consumer demand.
Economics