Frederic Bastiat's satirical argument against protectionism called for protecting domestic producers from:

There are very few, if any, good substitutes for motor oil. What does this imply?

a) The supply of motor oil would tend to be price elastic. b) The demand for motor oil would tend to be price elastic. c) The demand for motor oil would tend to be price inelastic. d) The demand for motor oil would tend to be income elastic.

Which of the following statements is true?

a. Derived demand for labor depends on the demand for the product labor produces. b. Unions can either increase demand or decrease the supply of labor. c. Investment in human capital is expected to increase the demand for those workers. d. All of these.