A Major Reason Why It Is Difficult to Lower the Barriers

question 240

Multiple Choice

A major reason why it is difficult to lower the barriers to free trade is

• A) that total benefits are less than total costs from free trade.
• B) the uneven distribution of gains and losses from free trade.
• C) the loss of jobs without any gain of jobs from free trade.
• D) the inability to compensate losers from free trade.
• E) that the barriers allow us to compete with cheap foreign labor.

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Definitions:

Bank Reconciliation

The process of matching and comparing the account balance according to the bank statement with the balance recorded in the company’s own accounting records to identify discrepancies.

Risk Assessment

The process of identifying, analyzing, and evaluating the levels of risk facing an entity, project, or investment.

Bank Reconciliation

is the process of matching the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement, to ensure records are consistent.

Notes Receivable

A written promise that obligates a borrower to repay a specific amount of money, with or without interest, to a lender at a future date or on demand.