If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta, Epsilon has imposed a(n) ________
A) quota
B) subsidy
C) embargo
D) tariff
E) foreign content requirement
D
Explanation: D) The most common trade barrier is the tariff, a tax imposed on an imported good or service, like grapes. Governments prefer to impose tariffs because they raise tax revenues.
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Stewardship assets are reported as a classification within the property, plant, and equipment section of the federal balance sheet.
Answer the following statement true (T) or false (F)
Interest expense on a mortgage would be classified on a multistep income statement under the heading
A) general and administrative expenses. B) selling expenses. C) cost of goods sold. D) other revenue and expenses.
Owners of a corporation are called shareholders or stockholders.
Answer the following statement true (T) or false (F)
Tarpon Corp had the following long-term debt at December 31: Collateral trust bonds, having securities of unrelated corporations as security ............................ $250,000 Bonds unsecured as to principal ....................... 150,000 The debenture bonds amounted to
a. $0. b. $150,000. c. $250,000. d. $400,000.