An Example of a Tariff Is

question 84

Multiple Choice

An example of a tariff is

• A) Japanese automobile manufacturers agreeing to limit exports to the United States.
• B) a decision by the United States to limit South Korean television imports to 100,000 per year.
• C) France charging an additional 10 percent tax on imports of Vietnamese clothing.
• D) a decision by Saudi Arabia to reduce oil exports to India by 100,000 barrels.
• E) Chinese toy manufacturers agreeing to reduce exports to the United States.

---

Definitions:

Normal Balance

The side (debit or credit) of an account that is usually increased, reflecting its nature as an asset, liability, equity, revenue, or expense.

Equity

The ownership interest held by shareholders in a corporation, calculated as total assets minus total liabilities.

Liability

A financial obligation or debt that a company owes to others, which must be settled over time through the transfer of assets or services.

Asset

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.