The Greatest Opportunity for the Poor Around the World Is

question 46

Multiple Choice

The greatest opportunity for the poor around the world is:

• A) tariffs.
• B) subsidies.
• C) free trade.
• D) protectionism.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.

Subsidy

A form of financial aid or support extended to an economic sector, typically by the government, to promote beneficial economic activities.

Deadweight Loss

The lost economic efficiency when the equitable or allocatively efficient outcome is not achieved, often due to taxes, subsidies, or monopolies.

Excise Tax

A tax imposed on specific goods, services, or activities, usually to discourage their use or to raise revenue.