Which Is a Valid Counterargument to the Call for Higher

question 47

Multiple Choice

Which is a valid counterargument to the call for higher tariffs to save Canadian jobs?

• A)the need to protect Canadian workers from the dumping of foreign products
• B)strategic trade policy calls for equal treatment of all trading nations so that they will have the same competitive conditions
• C)Canadian firms and workers must be protected from the ruinous competition of nations where wages for workers are low
• D)imports may eliminate some Canadians jobs, but they create others, so they may have little or no effect on employment

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Definitions:

LIFO Liquidation

A situation where older inventory, costed at historical prices, is sold, possibly resulting in higher reported profits due to inflation.

Pre-tax Effect

The impact on financial results before the adjustment for taxes has been made.

Units

In accounting and financial reporting, it can refer to a measure of quantity, such as items sold or produced.

Perpetual Inventory System

An inventory management system that updates inventory records for each purchase and sale in real-time.