When the United States Imposes a Tariff on Imported Cars

question 73

Multiple Choice

When the United States imposes a tariff on imported cars, U.S. consumers pay

• A)more for imported and less for domestically produced cars.
• B)less for imported and more for domestically produced cars.
• C)less for imported and domestically produced cars.
• D)more for imported and domestically produced cars.
• E)the same as before the tariff was imposed.

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Definitions:

General Journal

A primary accounting record used to record all types of financial transactions in chronological order.

General Ledger

A comprehensive record of all financial transactions within a company, used to compile financial statements.

Pay Period

The time frame over which an employee's work hours are recorded and for which they are compensated.