The Infant Industry
The infant industry argument states that
a) some industries need permanent government protection because otherwise they can never be competitive in the international economy.
b) some industries need government protection to provide time to reorganize, grow, or establish themselves.
c) government should promote competition in order to support industries that lower prices to consumers.
d) some industries need protection because foreign companies price lower than the domestic price.
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The infant industry argument contends that countries should impose trade barriers (such as tariffs) in order...
The infant industry argument contends that countries should impose trade barriers (such as tariffs) in order to protect new industries. The logic is that, while domestic countries within a particular industry may not be competitive with foreign producers now, they will be within a few years as companies develop more experience and technology. There are successful examples of this (Toyota was an infant immediately after WWII) and unsuccessful examples of this (the Malaysian car industry comes to mind). Should countries...
match the argument with the response suggested by economi Match the argument with the response suggested...
match the argument with the response suggested by
economi
Match the argument with the response suggested by economists. The jobs argument: Trade should be restricted A Trade restriction causes domestic prices to rise. The cost because it destroys jobs in industries that compete with imports to consumers exceeds the lost earnings of workers who lose their jobs. It would be cheaper to pay the workers The dumping argument When a producer sells a retaliation from trading partners will shrink employment...
The U.S. government restricting the quantity of sugar imports into the country is an example of...
The U.S. government restricting the quantity of sugar imports into the country is an example of a(n): trade settlement. trade quota. market hanger. embargo. The key industries argument for trade restrictions relies on the notion that: war may disrupt trade flows. some industries deserve protection because they provide positive spillover effects to the rest of the economy. products with inelastic supply are the major source for job creation. economies of scale are easier to achieve in exporting industries. Which of...
The ratio of the prices of exported goods to the prices of imported goods is known...
The ratio of the prices of exported goods to the prices of imported goods is known as the: A. international inflation rate. B. terms of trade. C. price differential. D. ratio of advantage. Which statement is correct? A. Tariffs encourage international trade. B. There are both winners and losers from international trade. C. International trade lowers global production. D. It is always in the producers' interest to open borders to trade. Which statement is NOT an argument against free trade?...
3. The graph below depicts the cost and demand conditions of an industry that is seeking...
3. The graph below depicts the cost and demand conditions of an industry that is seeking infant industry protection from its government. It assumes that the world price of the good is $15 in 2017 and is also projected to remain at $15 in 2020. (20P) a. If the industry were operating under world market conditions in 2017, it could supply 8 million units but the industry could/could not break even because its average cost at this supply level is...
2. A binding price floor A. has no effect B. creates a permanent surplus C. creates a temporary surplus...
2. A binding price floor
A.
has no effect
B.
creates a permanent surplus
C.
creates a temporary surplus
D.
creates a permanent shortage
3. Protection of a new industry until it becomes strong enough
to compete with foreign producers is based on the argument of
A.
infant industries.
B.
government revenue creation.
C.
reciprocity.
D.
creation of a level playing field.
E.
national defense.
4. Economists prefer tariffs to free trade since tariffs do not
have a deadweight loss....
QUESTION 9 As it relates to international trade, dumping O constitutes a general case for permanent...
QUESTION 9 As it relates to international trade, dumping O constitutes a general case for permanent tariffs. is defined as selling more goods than allowed by an import quota, O O is a form of price discrimination illegal under U.S. antitrust laws. O is the practice of selling goods in a foreign market at less than cost. QUESTION 10 The infant-industry argument can be justified because: O A new industry may be difficult to start in the face of existing...
Please analyse the case study and answer 2 following questions. Thanks! a) Explain why Myanmar should/should...
Please analyse the case study and answer 2 following questions. Thanks! a) Explain why Myanmar should/should not use protectionist policies b) Present a country that also has applied IIP in the past to evaluate its costs and benefits Myanmar is working hard to make the difficult economic transition from its current status as a Least Developed Country to its once-held spot as one of the most developed Asian economies. Urged on by many international and domestic experts, sweeping liberalisation reforms...
From the given case study, a) Discuss why Myanmar should or should not use protectionist policies...
From the given case study, a) Discuss why Myanmar should or should not use protectionist policies b) Choose a country that also has applied IIP in the past to evaluate its costs and benefits. Myanmar is working hard to make the difficult economic transition from its current status as a Least Developed Country to its once-held spot as one of the most developed Asian economies. Urged on by many international and domestic experts, sweeping liberalisation reforms are being pursued by...
20 When the US makes an agreement for the protection of firms' asets with China thi agreement is: a. A multilateral agreement b. A bilateral agreement c. An agreement reached by the WTO d. An...
20 When the US makes an agreement for the protection of firms' asets with China thi agreement is: a. A multilateral agreement b. A bilateral agreement c. An agreement reached by the WTO d. An agreement that protects the assets of US MNEs in NAFTA The internet and cloud computing represents a challenge to national legal systems because a. They obscure the location of economic activity for legal purposes b. Citizens love them too much c. They were not included...
The infant industry argument contends that countries should impose trade barriers (such as tariffs) in order to protect new industries. The logic is that, while domestic countries within a particular industry may not be competitive with foreign producers now, they will be within a few years as companies develop more experience and technology. There are successful examples of this (Toyota was an infant immediately after WWII) and unsuccessful examples of this (the Malaysian car industry comes to mind). Should countries...
match the argument with the response suggested by
economi
Match the argument with the response suggested by economists. The jobs argument: Trade should be restricted A Trade restriction causes domestic prices to rise. The cost because it destroys jobs in industries that compete with imports to consumers exceeds the lost earnings of workers who lose their jobs. It would be cheaper to pay the workers The dumping argument When a producer sells a retaliation from trading partners will shrink employment...
3. The graph below depicts the cost and demand conditions of an industry that is seeking infant industry protection from its government. It assumes that the world price of the good is $15 in 2017 and is also projected to remain at $15 in 2020. (20P) a. If the industry were operating under world market conditions in 2017, it could supply 8 million units but the industry could/could not break even because its average cost at this supply level is...
2. A binding price floor
A.
has no effect
B.
creates a permanent surplus
C.
creates a temporary surplus
D.
creates a permanent shortage
3. Protection of a new industry until it becomes strong enough
to compete with foreign producers is based on the argument of
A.
infant industries.
B.
government revenue creation.
C.
reciprocity.
D.
creation of a level playing field.
E.
national defense.
4. Economists prefer tariffs to free trade since tariffs do not
have a deadweight loss....
QUESTION 9 As it relates to international trade, dumping O constitutes a general case for permanent tariffs. is defined as selling more goods than allowed by an import quota, O O is a form of price discrimination illegal under U.S. antitrust laws. O is the practice of selling goods in a foreign market at less than cost. QUESTION 10 The infant-industry argument can be justified because: O A new industry may be difficult to start in the face of existing...
20 When the US makes an agreement for the protection of firms' asets with China thi agreement is: a. A multilateral agreement b. A bilateral agreement c. An agreement reached by the WTO d. An agreement that protects the assets of US MNEs in NAFTA The internet and cloud computing represents a challenge to national legal systems because a. They obscure the location of economic activity for legal purposes b. Citizens love them too much c. They were not included...
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