Which of the Following Is Not Correct

question 478

Multiple Choice

Which of the following is not correct?

• A)Economists are generally united in their support of free trade.
• B)The conclusions of Adam Smith and David Ricardo on the gains from trade have held up well over time.
• C)David Ricardo argued that Britain should not restrict imports of grain.
• D)Economists' opposition to trade restrictions is still based largely on the principle of absolute advantage.

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Hourly Rate

The amount of money paid for each hour of work performed, typically used as a measure of compensation for part-time or contract employees.

FICA Taxes

Taxes collected in the United States to fund Social Security and Medicare, typically deducted from employees' paychecks.

Taxable Income

The portion of an individual's or corporation's income used as the basis for calculating how much tax is owed.

Social Security Tax

A tax that finances the Social Security program, providing benefits for retirees, the disabled, and survivors of deceased workers.