During the 1980s, Harley-Davidson, the American motorcycle maker asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection.
A) anti-dumping
B) save domestic jobs
C) infant-industry
D) national security
E) bring diversity and stability
C
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The real interest rate is the rate at which borrowers or lenders ________ to make transactions when issuing or receiving loans
A) are required B) refuse C) expect D) can only obtain from a financial intermediary
Private solutions often are not possible due to the costs of negotiating and enforcing these solutions. Such costs are called: a. transaction costs
b. external costs. c. deadweight losses. d. social costs.