Which of the Following Is Least Accurate

question 28

Multiple Choice

Which of the following is least accurate ?

• A) In 2007, the United States imports significantly more than it exports.
• B) Tariffs from imported goods accounted for over 90% of federal government revenue for the first 80 years of the United States.
• C) The largest trading partner of the colonial United States was England.
• D) In the late 1800s the US significantly increased its imports of raw materials to fuel its increased production of manufactured goods.
• E) During the Napoleonic War, the United States' exports decreased significantly because the war disrupted trade routes.

Recognize the strategies used by governments to mitigate issues stemming from voter preferences for benefits and deferred costs.

Identify examples of regulatory capture and its implications for economic policy.

Understand the process and effects of deregulation in various industries.

Describe the mechanisms through which government loan guarantees can impact economic outcomes.

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Definitions:

Illegality

The state or condition of being contrary to law or forbidden by law.

License Fee

A payment required for the permission to use someone else's property or intellectual property rights, such as software, music, or brand names, under specified conditions.

Legal Regulations

Rules or directives made and maintained by authority, governing behavior within a specific system, often within the context of industries, professions, or societal laws.

Emancipated

A legal status achieved by a minor, often through a court decision, which grants them the rights and responsibilities of adulthood.