If a market is narrowly defined, a product is likely to have fewer substitutes and demand for the product will be less elastic

According to the infant industry argument for import protection, such protection is needed because:

A) foreign workers are often paid less than American workers. B) it enables our protected industries to achieve technological efficiency and thus become competitive with mature foreign industries. C) the nation's national security depends on a strong industrial base. D) it provides consumers with more and better goods in the long run.

Individuals who suffer from unemployment spells lasting more than six months are ________

A) chronically unemployed B) frictionally unemployed C) discouraged workers D) no longer counted as part of the labor force