There Is Often Heated Debate Over What Qualifies as a Nontariff

question 26

Essay

There is often heated debate over what qualifies as a nontariff barrier to trade and how large any trade-distorting effects of NTBs are. Why might this be so? Why do you suppose such debate is less common for tariffs?

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Definitions:

Factory Overhead Cost

Manufacturing expenses, except for direct materials and direct labor costs.

Direct Materials

Raw materials that are directly traceable to the production of a specific product.

Manufactured Product

Items that have been produced from raw materials through a process involving labor and machinery, making them ready for sale.

Managerial Accounting

The act of detecting, assessing, scrutinizing, and sharing economic information with executives to help in reaching the goals of an organization.