An Import Tariff May Be Protective ________

question 66

Multiple Choice

An import tariff may be protective ________.

• A) only if it is on imports the country produces domestically
• B) if it serves primarily to restrict entry of hazardous materials
• C) if it does not generate significant tax revenue for essential industries
• D) even though the importing country does not produce the product

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Definitions:

Sales

The total revenue generated from goods or services sold by a company during a specific period.

Percent Change

A mathematical calculation that shows how much a quantity has increased or decreased as a percentage of its previous value.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of financial transactions.

Transaction Posted

The act of recording a financial transaction in the accounting records of a company.