A major difficulty with the infant industry argument for protection is that
A) government revenue will fall with a tariff.
B) it requires the nation to fall into the large country case for tariff protection.
C) effective rates of protection are usually greater than nominal rates.
D) the measurement of production externalities is difficult and uncertain.
D
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Realists and economic structuralists contend that the composition of the UN Security Council is an example of which major problem in international law?
a. how laws are ultimately interpreted by the council b. how agreements are made in the first place c. how undesirable norms and values are spread d. how weak or corrupt states are empowered
Refer to Table 1-5. What is Julius's marginal cost if he decides to stay open for three hours instead of two hours?
A) $0 B) $18 C) $54 D) $65