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» Practice Questions
1. Economist Anne Krueger found that import licenses in many developing countries,
represented a significant portion of some developing countries’ GDP and encouraged rent-seeking behavior
represented a relatively small portion of some developing countries’ GDP, but was surprisingly immune from rent-seeking behavior
was insignificant in developing economies, a reversal from the trends observed in developing nations a century earlier
2. When an economy imposes tariffs on foreign goods, hoping its domestic producers will arise as substitutes in also known as ________________________.
the “infant industry” argument
both a. and b.
Copyright 2012 - Tyler Cowen and Alex Tabarrok