Which of the Following Is a Valid Counterargument to the Call

question 234

Multiple Choice

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

• A) U.S. firms and workers must be protected from the cheaper labor in nations where wages are low.
• B) All nations cannot simultaneously succeed in restricting imports while maintaining exports.
• C) Reducing tariffs will benefit all consumers and domestic producers.
• D) The need to protect U.S. workers from unemployment is not a concern in international economics.

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Definitions:

Operating Expenses

Expenses incurred during the normal operation of a business, not including the cost of goods sold.

Supplies Expense

The cost incurred from using supplies during an accounting period, recognized as an expense.

Net Income

The total profit of a business after all expenses and taxes have been subtracted from total revenue.

Inventory

Items that are held by a company for the purpose of selling in the near future or the materials used to produce those goods.