Which of the Following Would Be Most Likely to Improve

question 57

Multiple Choice

Which of the following would be most likely to improve the standard of living of a less-developed country?

• A) development of strong labor unions.
• B) more foreign investment, attracted by the expectation of economic and political stability.
• C) adoption of trade barriers (higher tariffs and quotas).
• D) widespread use of price controls to allocate goods and resources.

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Definitions:

Uncontrollable

Refers to factors or costs that cannot be controlled or influenced by the management or operations of a business.

Loan Interest

The additional money paid to a lender in return for borrowing money, calculated as a percentage of the loan amount.

Stationery Expenses

Costs associated with office supplies such as paper, pens, and envelopes, used in the daily operations of a business.

Management Accounting

The method involves creating managerial reports and financial records that deliver precise and prompt financial and statistical data needed by managers for making daily and near-term decisions.