Which of the Following Will NOT Result from a Tariff

question 9

Multiple Choice

Which of the following will NOT result from a tariff?

• A)Higher import prices
• B)Higher prices of goods for consumers
• C)Less availability of goods for consumers
• D)Price increases for exported goods
• E)Import duty revenue for the government

Appreciate how legal and ethical considerations impact price setting.

Recognize the importance of estimating customer demand in strategizing marketing and resource allocation.

Examine how specific product characteristics and market dynamics affect demand.

Understand how price elasticity influences revenue strategies in response to changes in demand.

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Definitions:

GAAP

Generally Accepted Accounting Principles (GAAP) are a collection of commonly followed accounting rules and standards for financial reporting.

IFRS

International Financial Reporting Standards, which are globally accepted guidelines for financial reporting established by the International Accounting Standards Board.

Perpetual Inventory System

This accounting practice immediately logs the sale or acquisition of inventory via computerized point-of-sale systems and software for managing enterprise assets.

Accounts Payable

Short-term debts or obligations a company owes to its suppliers or creditors for goods and services received.