Which of the Following IS NOT a Reason for Imposing

question 53

Multiple Choice

Which of the following IS NOT a reason for imposing restrictions on exports?

• A)Provide local consumers with greater access
• B)The interest of national security
• C)Foreign policy purposes
• D)Supply surplus
• E)Desire to retain capital

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Definitions:

Accounting Profit

The total revenue of a business minus the explicit costs, representing the financial gain in accounting terms.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the additional return over the investor's opportunity cost.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.

Explicit Costs

These are the direct, out-of-pocket payments made by businesses for operational expenses like wages, rent, and materials.