The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates
a. True
b. False
Indicate whether the statement is true or false
True
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The infant industry argument is based on the idea that:
a. competitive pressure from established foreign firms would encourage the infant industry's prospects for future growth. b. failure to shelter these infant industries tends to lead to political instability. c. small firms must be protected. d. none of these.
The reason that most of the coffee that is consumed in the United States comes from Colombia is that
A) Colombia has an absolute advantage in producing coffee relative to the United States. B) Colombia has a comparative advantage in producing coffee relative to the United States. C) coffee cannot be grown in the United States. D) government trade disincentives regarding Colombian coffee make such trade possible.