Why Do Governments in Less-Developed Nations Usually Impose Tariffs

question 89

Multiple Choice

Why do governments in less-developed nations usually impose tariffs?

• A) The nation's total income will be increased.
• B) The government's low-paid workers are protected from high-paid foreign workers.
• C) The national security of the country is definitely improved.
• D) The government gains revenue from the tariff.
• E) The government diversifies its economy.

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Definitions:

Average Cost Method

An inventory costing method that calculates the cost of goods sold based on the average cost of all similar items in inventory.

Equivalent Unit

A measure used in cost accounting to express the amount of work done by manufacturers on units that are partially completed at the end of an accounting period.

Applied Overhead

The portion of overhead costs allocated to specific jobs or departments based on a predetermined rate.

Department 2

A designated segment within an organization, often used in context to differentiate varying functional areas or operational units.