A Restriction Placed on the Amount of a Product Allowed

question 30

Multiple Choice

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a

• A)quota.
• B)tariff.
• C)GATT tax.
• D)subsidy.
• E)excise tax.

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Definitions:

Investment Income

Income generated from the allocation of funds into financial assets or properties expecting to gain profits.

Purchasing Power

The worth of a currency reflected by the quantity of goods or services a single unit of that currency can purchase.

Net Assets

The total assets of a company minus its total liabilities.

Deferral Method

An accounting practice that involves postponing the recognition of certain income or expenses until a later accounting period, typically to match revenue with expenses more effectively.