Choose the Correct Statement

question 104

Multiple Choice

Choose the correct statement.

• A)Canada produces more services than goods.
• B)Canada produces more goods than services.
• C)Canada produces an equal quantity of goods and services.
• D)China's production of services is a greater percentage of its total production than Canada's.
• E)Canada's production of manufacturing is a greater percentage of its total production than China's.

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Definitions:

Tax Levied

Refers to the imposition of taxes by a governing authority on individuals, corporations, or properties to generate revenue for public expenditures.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.

Tariff

Tariff is a tax imposed by a government on goods and services imported from other countries to protect domestic industries or generate revenue.

Foreign-Produced Automobiles

Vehicles that are manufactured outside of a country's boundaries and then imported for sale within that country.