Which of These Is True of the Mercantilism Policy

question 32

Multiple Choice

Which of these is true of the mercantilism policy?

• A)It accepts gold as a medium of exchange.
• B)It encourages free movement of labor and capital resources between nations.
• C)It emphasizes government control over the production of important goods and services.
• D)It emphasizes the importance of trade restrictions in achieving economic growth.
• E)It believes that a nation's economic vitality depends on its unemployment level.

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Definitions:

Income Tax Expense

The total amount of income tax that a company calculates it owes for a specific period.

Provincial Income Tax

The tax levied by a provincial government on the income of individuals and organizations within its jurisdiction, varying from province to province.

Federal Income Tax Payable

Liabilities owed to the federal government for income taxes that have been incurred but not yet paid.

Direct Method

An accounting approach for the cash flow statement that lists major classes of gross cash receipts and payments.