Restrictions on Imports

question 89

Multiple Choice

Restrictions on imports

• A) usually have no permanent effects on an economy.
• B) is the best way to increase exports.
• C) protect United States jobs.
• D) eventually reduce exports.

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Definitions:

Account Payable

Money owed by a business to its suppliers or creditors for goods and services purchased on credit, considered a current liability.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest of shareholders.

Cash Payment

A transaction that involves the immediate transfer of cash from the buyer to the seller for the purchase of goods or services.

Liabilities

Financial obligations or debts that a company owes to others, which must be paid back in the future.