A Protective Tariff Will

question 83

Multiple Choice

A protective tariff will

• A) increase the sales of foreign exporters.
• B) increase the price and sales of domestic producers.
• C) increase the welfare of domestic consumers.
• D) create an efficiency gain in the domestic economy.

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Definitions:

Operating Segments

Components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

Reportable

Pertains to the requirement to disclose or make known certain information to regulatory bodies or in financial statements.

Revenue Test

An accounting principle used to determine when revenue is recognizable in the financial statements based on specified criteria.

Profit or Loss Test

A criterium used to assess the profitability or loss incurred by a business over a specific period.