In international trade, an infant industry is one:
A. that protects firms that produce products for infants.
B. with a large number of very small firms.
C. in which the firms are experiencing very small profits.
D. in the early stages of its development.
Answer: D
Economics
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The disadvantages of proprietorships include
A) limited liability for the owner. B) double taxation of business profits. C) the fact that the proprietorship can continue even after the owner dies. D) the fact that the proprietor is solely responsible for all the firm's debts.
Economics
If a nation restricts trade with other nations, then the most likely effect is:
A. Lower prices of goods and services in the nation B. Increased specialization of production C. Expanded economic wealth of the nation D. Make consumers in the nation worse off
Economics