If an infant industry truly has a good chance to become competitive and produce profitably once it is well established, it is not at all clear that government should even offer protection to reduce short-run losses

Which of the following would result in a higher real wage rate and a greater level of employment in the United States?

A) an increase in the supply of capital in the United States B) more liberal U.S. immigration policies C) an increase in the U.S. population D) all of the above

The term "price supports" refers to a

a. shortage. b. surplus. c. price ceiling. d. price floor.