A policy aimed at promoting the development of specific industries within a country that may increase domestic welfare through trade with the rest of the world is known as a(n):
A) infant-industry policy.
B) key-industry policy.
C) strategic trade policy.
D) welfare-trade policy.
Ans: C) strategic trade policy.
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Hank's Propane Storage Company is a profit-maximizing monopsony in the local labor market for propane handling, delivery, and other associated services. The supply and marginal cost of labor curves are shown in the figure above
Hank's demand for labor curve is the curve labeled VMP = D. At what level should a minimum wage be set in order to achieve the wage rate and quantity of employment that would be attained in a competitive labor market? A) $4 per hour B) $6 per hour C) $8 per hour D) $12 per hour
Today, ________ of shoes sold in the United States are made overseas?
A) almost 75 percent B) 99 percent C) just over half D) about 25 percent