A Common False Argument for Using Tariffs to Maximize National

question 64

Multiple Choice

A common false argument for using tariffs to maximize national income and raise domestic living standards is to _.

• A)encourage learning by doing
• B)exploit economies of scale
• C)create a strategic trade advantage
• D)alter the terms of trade
• E)protect declining industries

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Definitions:

Ananda

A key disciple of the Buddha, known for his memory and recollection of the Buddha's teachings.

Suryavarman II

An 11th to 12th-century Khmer king of Cambodia, best known for commissioning the construction of the Angkor Wat temple complex.

Angkor Wat

A temple complex in Cambodia and one of the largest religious monuments in the world, originally constructed as a Hindu temple dedicated to the god Vishnu for the Khmer Empire.

Vishnu

One of the principal Hindu deities, worshipped as the protector and preserver of the universe.