A Tariff Shifts the ___________ Curve to the __________

question 121

Multiple Choice

A tariff shifts the ___________ curve to the __________.

• A)demand;right
• B)demand;left
• C)supply;right
• D)supply;left

---

Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers in two columns, debits and credits, ensuring that total debits equal total credits.

Debit

An accounting entry that increases asset or expense accounts, or decreases liability, equity, or revenue accounts.

Credit

An accounting entry on the right side of an account ledger, recording increases in liabilities, equity, and revenue, or decreases in assets and expenses.

Recording Process

The act of documenting financial transactions systematically in the books of accounts of a business.