Which of the Following Statements Is False

question 316

Multiple Choice

Which of the following statements is false?

• A)Studies show that developing nations that have relied on import restrictions to protect domestic industries have had higher growth rates than similar nations pursuing more open economic policies.
• B)The U.S. Constitution forbids individual states from levying tariffs.
• C)The high tariffs of the Smoot-Hawley Act of 1930 and the retaliation they caused worsened the Great Depression.
• D)The European Union has enhanced prosperity in Western Europe.

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Definitions:

UCC

Stands for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Statute of Frauds

A rule of law mandating that specific contract categories must be documented and signed by the involved parties to have legal validity.

Writing Requirement

The legal principle that certain contracts or agreements must be documented in written form to be legally binding.

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by all parties involved in order to be enforceable.