Which of the Following Statements Is False

question 171

Multiple Choice

Which of the following statements is false?

• A)Exports benefit trading countries because exports create jobs.Imports do not benefit trading countries because they result in a loss of jobs.
• B)Each year the United States exports about 50 percent of its wheat crop and 20 percent of its corn crop.
• C)Most of the leading exporting countries are large,high-income countries.
• D)Not all sectors of the U.S.economy are affected equally by international trade.

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Definitions:

Increase Revenue

Strategies or actions that lead to a rise in the total amount of money received by a company for goods sold or services provided.

AVC

The average variable cost, which is the total variable costs divided by the quantity of output produced.

Perfectly Competitive Firms

Businesses operating in a market where no single firm can influence the market price or product quality, leading to optimal efficiency.

Maximize Profit

The process or strategy employed by businesses to increase their net earnings or reduce costs to the greatest extent possible.