Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?
A) Abundant low wage, low skill workers
B) A large domestic market that can lead to scale economies
C) Coastal areas with good logistics for international trade
D) Abundant credit from China's government sector to set up manufacturing operations
D
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In the 1950s, crude oil and natural gas imports were restricted to keep the domestic industries viable in case of a war. The rationale for this protection is the ________ argument for protection
A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) penalizing lax environmental standards
Which of the following statements is true about monopsony?
a. c and e. b. c, d, and e. c. Monopsonists exercise complete buying power. d. Monopsonists maximize profit by setting MRP = MFC. e. Monopsonists face the whole labor supply curve.