Give below are two statements: One is labelled as Assertion A and the other is labelled as Reason R:
Assertion A: If governments do not care about protectionists' rents, they would replace all import duties with sales taxes.
Reason R: Sales tax is more efficient means of raising revenue than import tariff.
In the light of the above statements, choose the correct answer from the options given below:
1
Both A and R are true and R is the correct explanation of A.
2
Both A and R are true but R is NOT the correct explanation of A.
3
A is true but R is false.
4
A is false but R is true.