A new industry develops, and our government wants to protect it from foreign competition. Which one of the following arguments would appropriately describe this type of protection?

A current concern about Social Security is that

A) funds set aside by past generations to pay benefits for future generations are growing too rapidly and may trigger inflation. B) promised benefit payouts are growing more rapidly than likely sources of revenues, indicating a future inability to keep the system operating. C) continued political bickering between the president and Congress could lead to an end to any funding of the program. D) the payroll taxes used to fund the program are being eliminated as part of an effort to generate employment increases, thus leaving the program bankrupt.

Advertising is very important to firm operating in: a. perfect competition but not in monopolistic competition

b. monopolistic competition but not in perfect competition. c. perfect competition and monopolistic competition but not in monopoly. d. none of the above