Which of the Following Is a Valid Counterargument to a Call

question 315

Multiple Choice

Which of the following is a valid counterargument to a call for higher tariffs "to save U.S. jobs"?

• A) The government needs to protect U.S. workers from the dumping of foreign products.
• B) Strategic trade policy calls for equal treatment of all trading nations so that they will have the same competitive conditions.
• C) U.S. firms and workers must be protected from the ruinous competition of nations where wages for workers are low.
• D) Imports may eliminate some U.S. jobs, but they create others, so they may have little or no effect on employment.

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Definitions:

Tax Depreciation

The deduction of a fixed asset's costs over its useful life for tax purposes, reducing taxable income.

Book Depreciation

The methodical distribution of a physical asset's expense across its lifespan for the purposes of accounting and taxation.

Tax Rate

Tax rate refers to the percentage at which an individual or corporation is taxed by the government on their income or profits.

Income Tax Payable

The amount of income tax a company or individual owes to the government but has not yet paid at a specific date, found on the balance sheet.