Which of the Following Statements Is TRUE

question 70

Multiple Choice

Which of the following statements is TRUE?

• A) The infant-industry argument is valid only if the benefits of learning-by-doing in the infant industry spill over to other parts of the economy.
• B) A subsidy to an infant industry is a more efficient way to protect it from foreign competition than a tariff on the competing foreign goods.
• C) Both statements are true.
• D) Neither of the statements is true.

Distinguish between an agreement to sell and a sale.

Understand the jurisdictional nuances of consumer protection and sales law.

Understand the relationship between price changes and movements along the supply and demand curves.

Identify the effects of changes in non-price factors (e.g., income, price of related goods, number of sellers) on supply and demand curves.

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Definitions:

Welfare Dependency

A situation where individuals or families remain reliant on government assistance for long periods, potentially hindering self-sufficiency.

Low IQ

Refers to an Intelligence Quotient that is significantly below the average for an individual's age group, often indicating difficulties in intellectual functioning.

Environmental Influence

Refers to the impact that surroundings, including physical, social, and cultural environments, have on living organisms, shaping behaviors, development, and evolution.

Adoptive Parents

Individuals who legally assume the role and responsibilities of parenting a child not born to them biologically.