The argument that developing countries should nurture their domestic industries by protecting them from foreign competition is known as
A) preservation of the home market.
B) the escape clause hypothesis.
C) the earth destruction hypothesis.
D) institutional fair trade policy.
A
Economics
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If desired spending is less than output, then firms:
A) accumulate their inventories and cut production. B) deplete their inventories and cut production. C) deplete their inventories and increase production. D) accumulate their inventories and increase production.
Economics
When a firm is producing at the profit maximizing level of out put and P > ATC, the firm is:
A) breaking even. B) incurring an economic loss. C) earning an economic profit. D) earning a profit or incurring a loss depending on the level of total fixed costs.
Economics