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(THE NEXT FIVE QUESTIONS ARE DESIGNED TO BE USED AS a UNIT.)

question 40

Multiple Choice

(THE NEXT FIVE QUESTIONS ARE DESIGNED TO BE USED AS A UNIT.) Donna has been a high school science teacher for 20 years. Her interest has been primarily in the teaching aspects of her work rather than in biology, her primary subject matter responsibility. She has also coached volley ball, an assignment that she has very much enjoyed. Her daughter Carol is also interested in biology, as well as chemistry. However, she also is interested in art. A good student Carol would like to go to college next year where she can start a pre-med program. Donna is supportive of Carol's plans. To start to save money, Carol has started to work part-time as a bank teller, a job that she finds tedious and boring. Apply Holland's theory in answering these questions. Carol's interests and personality are __________ with her current part-time work environment as a bank teller.

Identify the effects of trade on domestic production and consumption.

Understand the role of world price in determining whether a country will import or export a good.

Analyze the impact of tariffs on the quantity of goods imported or exported.

Understand the effects of tariffs and import quotas on domestic markets, including impacts on consumer surplus, producer surplus, and total surplus.

Definitions:

Amortization

The process of gradually writing off the initial cost of an intangible asset over its useful life.

Interest Expense

This is the cost incurred by an entity for borrowed funds over a period of time.

Bondholder Claims

The rights that bondholders have to the issuer's assets and income, usually in the form of interest payments and the return of principal at maturity.

Corporation Assets

Corporation assets are all owned resources of a corporation, including tangible and intangible items, that have value and can be used to produce goods or services.