The First Continental Congress met in September and October of 1774 and listed several complaints against the British government, including
(a) an objection not to the Navigation Acts but to the taxation without consent.
(b) the argument that they were entitled to all the rights of British citizenship.
(c) the demand that virtually all of the laws passed by Britain on the colonies since 1763 be repealed.
(d) all of the above.
(d)
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If Canada imports fishing poles from Mexico and Mexico imports bacon from Canada, which of the following would explain this pattern of trade?
A) The opportunity cost of producing fishing poles in Canada is higher than the opportunity cost of producing bacon in Mexico. B) Mexico has a higher opportunity cost of producing fishing poles than Canada, and Canada has a higher opportunity cost of producing bacon. C) Mexico must have an absolute advantage in producing fishing poles and Canada must have an absolute advantage in bacon. D) Mexico has a lower opportunity cost of producing bacon than Canada and Mexico has a comparative advantage in producing fishing poles.
Your textbook highlights a debate that has been going on for some years. The issue is whether there should be a corporation tax, given that corporations are nothing more than groups of people. Should there be a corporation tax? Why or why not?
What will be an ideal response?