The existence of marginal social benefits which are not marginal benefits for the industry producing the import substitutes
A) is an argument supporting free trade and non-governmental involvement.
B) is an argument supporting the use of an optimum tariff.
C) is an argument supporting the use of market failures as a trade-policy strategy.
D) is an argument rejecting free trade and supporting governmental involvement.
E) is an argument rejecting the domestic market failure concept.
D
Economics
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A production possibilities frontier that is bowed-inward implies
A) economies of scale. B) diseconomies of scope. C) economies of scope. D) no economies of scope.
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In reality, the Fed's information is fairly imprecise in regards to:
A. unemployment B. actual real GDP C. potential GDP D. inflation rates
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