An assumption behind the infant-industry argument for tariff protection is that
A) foreign competitors are selling output below average cost.
B) the domestic industry will be facing an upward adjustment in its average cost.
C) the domestic industry will eventually gain a comparative advantage in producing the good.
D) the market needs additional competition to satisfy consumer demand.
C
Economics
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The _____________ of an event happening is, the relative frequency with which it occurs.
Fill in the blank(s) with the appropriate word(s).
Economics
One explanation for the downward slope of the aggregate demand curve is that when the price level increase, which of the following will decrease?
A) Real value of assets B) Price of foreign goods C) Prices of substitute goods D) Expectations of future prices E) Government deficits
Economics