Which Is the Most Accurate Statement

question 40

Multiple Choice

Which is the most accurate statement?

• A)If most economists had to choose between a tariff and a quota,she or he would choose a tariff as the lesser of two evils.
• B)Both tariffs and quotas are basically good for our economy because they keep out foreign imports.
• C)Tariffs and quotas are equally bad for our economy.
• D)Most economists prefer import quotas to tariffs.

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Definitions:

Earned Income

Income derived from active participation in a business or wage-earning employment.

Transportation Costs

Expenses incurred for transporting goods or individuals from one location to another.

Deductible

An amount that can be subtracted from an individual's gross income or insurance claim, reducing the taxable income or payable sum.

Business Meeting

A gathering organized for the purpose of discussing and conducting business activities or matters.