What Mechanisms Have National Governments Used to Protect Their Economies

question 377

Multiple Choice

What mechanisms have national governments used to protect their economies and industries from foreign competition?

• A) tariffs and import quotas
• B) free trade blocs
• C) increasing the value of their currency
• D) antitrust laws

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Definitions:

Net Income

The total earnings of a company after all expenses and taxes have been deducted from revenue.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest in the company.

Owner's Drawings

The funds taken from the business by the owner for personal use, not considered as salary or wages.

Owner Drawings

Refers to the money or assets taken out of a business by the owner(s) for personal use.