The Table Below Shows the Prices in Canada of One

question 24

Multiple Choice

The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries.Assume that all cheddar cheese is identical. $$\begin{array} { | l | c | c | } \hline \text { Producing Country } & \text { Canadian Price in } \$ & \text { C anadian Price in } \$ \\\hline & \text { Free Trade } & 40 \% \text { Import Tariff } \\\hline \text { Canada } & 10.00 & \\\hline \text { United Kingdom } & 9.00 & \\\hline \text { United States } & 8.00 & \\\hline\end{array}$$ TABLE 34- 1
-According to the infant- industry argument for protection,a new small industry

• A)must be protected permanently to provide for a diversified economy.
• B)must be protected even if it will never have a comparative advantage.
• C)must be protected in order to provide a domestic supply of the product.
• D)will need protection once it has exploited available economies of scale.
• E)may need protection temporarily until it can exploit its economies of scale.

Grasp the concept of risk and return in stock ownership, including the variability of returns and the rationale behind the higher average returns of stocks compared to bonds.

Identify the key characteristics of stocks and bonds, including their risk profiles and returns.

Differentiate between the primary and secondary stock markets and understand their functions.

Comprehend the diversification of investment ownership in the U.S. and its impact on households.

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Definitions:

Reinforcement

A process in behavioral psychology by which the likelihood of a specific behavior is increased through a reward or decreased through a punishment.

Unconditioned Stimulus

In classical conditioning, it is any stimulus that naturally triggers a reflexive response without the need for prior learning.

Conditioned Stimulus

A previously neutral stimulus that, after being paired with an unconditioned stimulus, elicits a conditioned response by association.

Reinforcer

A stimulus delivered after a response that makes the response more likely in the future.