The Mercantilists Would Have Objected to

question 128

Multiple Choice

The mercantilists would have objected to

• A) export promotion policies initiated by the government.
• B) the use of tariffs or quotas to restrict imports.
• C) trade policies designed to accumulate gold and other precious metals.
• D) international trade based on open markets.

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Definitions:

Adjusting Entry

An adjusting entry is a journal entry made in accounting records to adjust income and expense accounts so they comply with the accrual concept.

Interest-Bearing Note

A debt instrument in which the issuer pays the holder interest at a specified rate over the term of the note.