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2 years ago

Why do politicians often establish trade barriers even though the barriers usually do more harm than good

1 answer:

4 0

They are incentivized to create policies that disperse costs over a large number of people but benefit small, powerful groups.

<h3>Why do government use trade barriers?</h3>

Governments can decide what types of goods and how much of each should enter the country by using trade barriers to either increase or limit (control) foreign commerce.

<h3>What is the biggest reason for trade barriers?</h3>

Tariffs and subsidies both increase the cost of imported items in comparison to native goods, which lowers imports.
Because its declared goal is to safeguard or advance specific businesses or economic sectors, trade barriers are frequently referred to as "protection."

<h3>Are trade barriers good or bad?</h3>

Trade restrictions like tariffs, which increase prices and limit supply of products and services, have been shown to have a negative economic impact on the economy.
As a result, there is a net decrease in income, employment, and economic production.

<h3>Which type of trade barrier is used for political purposes?</h3>

The government issues an order outlawing any trade with another nation.
The embargo is the toughest kind of trade restriction and is typically implemented for political reasons to harm a nation's economy.
When a nation totally forbids trade with another nation, it imposes an embargo.

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Why does a price floor lead to surpluses? Why does a price ceiling lead to shortages?

Degger [83]

Answer:

Shortage: there is more demand than there is at the equilibrium price. There is also less supply than there is at the equilibrium price, thus there is more quantity demanded than quantity supplied.

Your pretty much short in supply and cant fulfill the demand

While surplus

When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.

Theirs a a large amount of supply due to the pricing most likely beign high

Explanation:

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4 years ago

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting informa

defon

Answer:

$28,675 = direct materials used

Explanation:

<u>To calculate the direct material used, we need to use the following formula:</u>

Cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP

112,450= 23,600 + direct materials used + (22,550*2.5) + 22,550 - 18,750

112,450 - 23,600 - 56,375 - 22,550 + 18,750 = direct materials used

$28,675 = direct materials used

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3 years ago

Of the 141 companies on the list, jason chose to survey only 75 of them. he sent surveys to both small as well as large companie

Oduvanchick [21]

Because he divided the population into smaller groups and then randomly sampled each group, he would be using a stratified random sampling procedure.

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3 years ago

Which of the following represents the three general categories into which the key components of effective teams are grouped?A) i

Nataly [62]

Answer: The statement "D) context, composition, and process factors" represents the three general categories into which the key components of effective teams are grouped.

Explanation: Context: obtaining adequate resources, effective leadership, a climate in which confidence abounds and performance control and rewards that demonstrate the contributions of the team are the factors of the context that are related to the operation of the team.

Composition: These are the variables that are taken into account when establishing the way in which the equipment should be integrated. The capacity and personality of the members, the size of the group, the roles and the flexibility of the working group are taken into account.

The factors of the process are the effectiveness of the team, conflicts at a manageable level, the commitment of each participant in the group for a common purpose and set goals for the team.

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3 years ago

Babcock Company purchased a piece of machinery for $36,000 on January 1, 2019, and has been depreciating the machine using the s

pogonyaev

Answer:

<u>Requirement 1:</u>

Dr Accumulated Depreciation $9,600

Cr Retained Earnings Account $9,600

<u>Requirement 2:</u>

Dr Depreciation Expense $6,000

Cr Accumulated Depreciation $6,000

Explanation:

Year Remaining Life of machine Depreciation fraction

1 5 5/15

2 4 4/15

3 3 3/15

4 2 2/15

5 <u> 1 </u> 1/15

Total 15

Now here, the depreciation formula is as under:

Depreciation expense = (Cost - Salvage Value) * Fraction value

The sum of years digit fraction would be 5/15 and the cost of the machinery is $36,000. So

Depreciation Expense = ($36,000 - 0) * 5/15 = $12,000

The sum of years digit fraction would be 5/15 and the cost of the machinery is $36,000. So

Depreciation Expense = ($36,000 - 0) * 4/15 = $9,600

Now in this year the there is change in estimate and a switch in the use of the depreciation method, which is now straight line method. The change in estimate only includes the useful life of the asset which is 6 years from the date of purchase.

So for straight-line depreciation:

Depreciation Expense = (Cost - Salvage Value) / Useful Life

By simply putting values, we have:

Depreciation Expense = $36,000 / 6 years = $6,000 per year

So this means, according to change in accounting policy, the excess depreciation charged must be eliminated from the previous years. The depreciation charge for the previous 2 years must be $12,000 and the excess depreciation charge is calculated as under:

Carrying value of the asset = $21,600 - $12,000 = $9,600

<u>Requirement 1:</u>

The double entry according to the US GAAP, for the excess depreciation charge in the previous years would be the waiving off of retained earnings with the excess depreciation amount calculated above.

Dr Accumulated Depreciation $9,600

Cr Retained Earnings Account $9,600

<u></u>

<u>Requirement 2:</u>

The depreciation expense for the year 2021, would be recorded as under:

Dr Depreciation Expense $6,000

Cr Accumulated Depreciation $6,000

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4 years ago