Which of the Following Was a Consequence of Countries' Imposing

question 46

Multiple Choice

Which of the following was a consequence of countries' imposing protective tariffs?

• A) Manufacturers cut back on production and laid off millions of workers.
• B) Local industries and products were able to drive out foreign imports.
• C) The flow of trade within a hemisphere was made easier.
• D) The production of raw materials soared.

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Definitions:

Operating Income

The income generated from the primary activities of a business, not including the expenses from interest and taxes.

Intra-Entity Transfers

Transactions of assets, services, or funds within the same legal entity.

Accrual-Based Net Income

Net income calculated using the accrual method of accounting, which records revenue when earned and expenses when incurred, regardless of cash flow.

Upstream Intra-Entity Profits

Profits earned from transactions between a parent company and its subsidiary, where the subsidiary sells goods or services to the parent.