Which of the Following Is Not an Argument in Favor

question 74

Multiple Choice

Which of the following is not an argument in favor of inward-oriented strategies?

• A)A newly developing economy needs protection from foreign competition.
• B)Government restrictions are necessary to maximize the rate of economic growth.
• C)Deteriorating prices of primary products in relation to manufactured goods expose developing countries to increasingly unfavorable terms of trade.
• D)Developing countries should compete on the basis of comparative advantage.
• E)Economic growth requires rapid industrialization and a shift away from primary products.

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Definitions:

Federal Income Tax

A tax levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Medicare Taxes

Taxes withheld from income to fund Medicare, the United States' federal healthcare program for individuals aged 65 and older and some younger people with disabilities.

Marginal Tax Rates

The rate of tax applied to your last dollar of income, representing what percentage of any additional earned income will be taken as tax.

Average Tax Rates

The ratio of the total amount of taxes paid to the total income, providing a measure of the tax burden.