Almost All Economists Agree That Tariffs and Import Quotas

question 4

Multiple Choice

Almost all economists agree that tariffs and import quotas

• A)reduces general economic welfare.
• B)increases general economic welfare.
• C)have no effect on general economic welfare.
• D)stimulate a less than fully employed economy.

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Definitions:

Invested Assets

Assets, including both equity and debt investments, that are held by an entity for earning returns or dividends.

Income From Operations

The profit generated from a business's regular core business operations, excluding any investment and financing activities.

Locomotive Division

A specialized business unit within a company that focuses on the design, manufacture, or maintenance of locomotives and related equipment.

Profit Margin

The percentage of revenue that turns into profit after all expenses have been deducted.