What Was the Effect on Europe When the United States

question 31

Multiple Choice

What was the effect on Europe when the United States increased tariffs on imported goods?

• A)Demand for European goods declined.
• B)Demand for European goods increased.
• C)Manufacturers had to open more factories to compete.
• D)European manufacturers became the financial hub of the global community.
• E)Europe was able to avoid the worst effects of the Depression.

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue, indicating financial performance.

Cost of Goods Sold

Expenses directly linked to the creation of a company's sold goods, which include the costs of materials and labor.

Cash Paid

The total amount of cash disbursed by a company during a given period for various purposes, including operating expenses, asset purchases, or debt repayment.

Indirect Method

A way of preparing the cash flow statement where net income is adjusted for changes in balance sheet accounts to calculate cash flow from operating activities.