The infant industry argument is that
A) comparative advantage is irrelevant to economic growth.
B) developing countries have a comparative advantage in agricultural goods.
C) developing countries have a comparative advantage in manufacturing.
D) developing countries have a potential comparative advantage in manufacturing.
E) developing countries have no chance to compete with industrialized countries.
D
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Education in the United States is
A) subsidized mainly by state and local governments. B) funded by the federal government only. C) paid for by the parents of students in public school system. D) paid for by Social Security taxes.
Long-run average cost of the perfectly competitive firm includes the
a. cost of raw materials per unit of output. b. opportunity cost of labor per unit of output. c. opportunity cost of capital per unit of output. d. All of the above are correct.