Which of the Following Is Not Correct Concerning Quotas

question 117

Multiple Choice

Which of the following is not correct concerning quotas?

• A)The enactment of quotas rewards domestic producers with higher prices.
• B)The enactment of quotas creates opportunities for lobbyists to seek the perpetuation of quotas.
• C)Quotas on steel, textiles and apparel, and sugar have been in effect for several decades.
• D)Lobbying efforts by domestic producers and foreign exporters are vigorously fought by domestic consumers.
• E)The auctioning of quotas would reduce their attractiveness to foreign exporters.

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Definitions:

Sales In Inventory

The quantity of goods that are available for sale in a company's inventory.

Average Daily Cost

The average cost incurred by a business or an operation calculated on a daily basis.

Sales In Inventory

This term seems incorrect or incomplete. The correct term is likely "Inventory," which refers to the goods and materials a business holds for the purpose of resale.

FIFO

First In, First Out (FIFO) is an inventory valuation method where the costs of the oldest items are the first to be expensed, used to calculate cost of goods sold.