Outward-Oriented Policies

question 110

Multiple Choice

Outward-oriented policies

• A)prevent countries from taking advantage of gains from trade.
• B)have generally led to high growth for the countries that pursued them.
• C)receive little support from economists, despite such polices success.
• D)None of the above is correct.

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Definitions:

Unearned Revenue

Money received by an individual or company for a service or product yet to be provided or delivered.

Drawing

Withdrawals of cash or other assets from a business by the owner for personal use, affecting the owner's equity.

Drawing Accounts

Personal accounts of the owners or partners in a business representing withdrawals of the business's assets for personal use.

Revenue Accounts

are ledger accounts that track the income earned by a company from its normal business operations, which is then reported on the income statement.