Most economists agree that valid reasons for protecting trade include which of the following? I. The economies of scale argument II. The saving jobs argument III. The protection of high wages argument
A) I only
B) I and II
C) I and III
D) None of the reasons are valid.
D
Economics
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Suppose that the price of bread rises. This rise could be the result of
A) a decrease in the supply of bread. B) an increase in the supply of bread. C) a decrease in the demand for bread. D) Both answers A and C are correct. E) Both answers B and C are correct.
Economics
Which of the following is a distinguishing characteristic of oligopoly?
A) A large number of firms compete. B) Each firm's actions influence the profits of all the other firms. C) Firms are free to enter and exit the industry. D) Natural barriers cannot prevent the entry of new firms.
Economics