The Industry for Computers Has Just Started Growing in the Nation

question 118

Multiple Choice

The industry for computers has just started growing in the nation of Verdana,and there is potential for the industry to flourish in the near future.However,there is stiff competition from other foreign nations that provide computers to the domestic market.The government is considering imposing a tariff.Which of the following arguments justifies the government's decision to impose a tariff on the import of computers?

• A)The antidumping argument
• B)The infant industry argument
• C)The jobs and income argument
• D)The declining industries argument
• E)The national defense argument

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Definitions:

Cost of Goods Manufactured

The total production cost of goods completed during a specific period, including materials, labor, and overhead.

Overhead Applied

An accounting method that allocates overhead costs to specific cost objects, such as products or jobs, based on a pre-determined rate or base.

Job Order Costing System

An accounting system used to assign costs to specific jobs or orders, tracking the direct materials, direct labor, and manufacturing overhead per job.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor costs. These costs include utilities, depreciation of factory equipment, and salaries of maintenance personnel.