Which of the Following Is Not Correct

question 478

Multiple Choice

Which of the following is not correct?

• A)Economists are generally united in their support of free trade.
• B)The conclusions of Adam Smith and David Ricardo on the gains from trade have held up well over time.
• C)David Ricardo argued that Britain should not restrict imports of grain.
• D)Economists' opposition to trade restrictions is still based largely on the principle of absolute advantage.

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Definitions:

Goodwill Recognition

The accounting process of recording the value of goodwill, which represents the intangible value acquired when a business is purchased for more than the fair value of its net identifiable assets.

Ownership Change

An event where the controlling interest in a company's shares is transferred from one party to another.

Theoretical Argument

An argument based on a theory, presenting a systematic set of ideas to explain phenomena or justify reasoning.

Articles of Partnership

A document that formalizes the rights, responsibilities, and operational guidelines for the partners of a partnership business.