The infant industry argument says that
A) tariffs should be imposed to allow a new industry in a country to get established.
B) dumping should be allowed in order to establish a presence of an industry that has previously not had a presence in another country.
C) countries should produce and trade goods according to their comparative advantage.
D) imports should target new products from other countries to take advantage of the transmission of new ideas.
Answer: A
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Of the following situations, explain which are best described as games and which are best described as just decisions:
a. Starbucks is deciding whether to offer a new, 40 oz. option called the Uberventi. b. Sasha is deciding whether to order a grande latte or venti latte from Starbucks. c. The people of Catalonia are deciding whether to vote for independence from Spain. d. MGM Resorts International is preparing to bid to obtain the last available casino license in Macao. e. The Hollywood Hills Homeowner Association is debating the landscape design for the renovation of the main entrance to their neighborhood.
All of the following were reasons that the Fed increase the required reserve ration in 1936 EXCEPT:
A) concerns over the possibility of future inflation B) to eliminate the high level of excess reserves C) fears that the economy was overheating D) concerns over a speculative bubble