chap 20 - 1....

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1.   The infant industry argument for tariffs is criticized:    Student Response Value Correct Answer Feedback A. because it is difficult  to determine which  industries merit  protection.      B. because direct  subsidies are  probably a better  means of stimulating  such industries.      C.  because the tariffs  may remain after the  industry reaches  maturity.      D.  for all of these  reasons. 100%       Score: 1/1    2.   Answer the next question(s) on the basis of the following information about the cost ratios for two products-fish  (F) and chicken (C)-in countries Singsong and Harmony. Assume that production occurs under conditions of  constant costs and these are the only two nations in the world. Singsong: 1F = 2C Harmony: 1F = 4C   Refer to the above information. Which one of the following would  not  be feasible terms for trade between  Singsong and Harmony?   
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Score: 0/1    3.   Answer the next question(s) on the basis of the following production possibilities tables for two countries,  Latalia and Trombonia:         Refer to the above tables. In Latalia the domestic real cost of 1 ton of pork:    Score: 0/1    4.  
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chap 20 - 1....

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