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Afina-wow [57]
2 years ago
12

An import​ quota: A. Is always more costly to a country than an import tariff. B. Has the same effects on welfare as an import t

ariff. C. Is always less costly to a country than an import tariff. D. Generates rents that might go to foreigners.
Business
1 answer:
Ivahew [28]2 years ago
3 0

Answer:

D. Generates rents that might go to foreigners.

Explanation:

An import quota is the trade restriction imposed by the government on the quantity of the particular commodity to be imported from another country. It protects domestic producers from foreign competition. Overseas goods are generally very cheap compared to locally produced goods, which can destroy a business from the market and can make foreign companies be the leader of the market, who can control the price and quality of the product. Therefore, it very helpful to the local producer in sustaining and generating profit in the market.

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If US workers can produce everything in less time than Mexican workers, it is not possible for the US to gain from trade with Me
Brums [2.3K]

Answer:

False

Explanation:

False because the theory of comparative advantage applies

5 0
3 years ago
The journal entry required to close the Drawing account is _____. a debit to Income Summary account and a credit to Drawing acco
Alex_Xolod [135]

The journal entry required to close the Drawing account is debit to Income Summary account and a credit to Drawing account.

Option a) is correct.

<h2>What is  Income Summary account ?</h2>

An income summary is a temporary account that is used to net the closing entries from all the revenue and expense accounts at the conclusion of the accounting quarter. The final balance is regarded as a gain or loss. The company made a profit for that year if the net balance of the income summary is a credit balance, and a loss for that year if the net balance is a debit balance.

It lists all earnings and costs related to both operational and non-operating operations. It is also known as a revenue and expense summary as a result.

Learn more about Income summary Accounts here:

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8 0
1 year ago
Suppose that in an attempt to induce citizens to conserve energy, the government enacts regulations requiring all air conditione
Nana76 [90]

Answer:

(A) Because the regulation effectively reduced the price of cool air, consumers with sufficiently elastic demand might have bought substantially more of it.

Explanation:

If the demand for energy services remains constant, improving energy efficiency will reduce energy consumption and carbon emissions. However, many efficiency improvements do not reduce energy consumption by the amount provided by simple engineering models. This is because they make energy services cheaper and therefore increases the consumption of those services.

For example, since low-fuel vehicles make travel cheaper, consumers can choose to drive further, thus offsetting some of the possible energy savings. Similarly, an extensive historical analysis of improvements in technological efficiency has conclusively demonstrated that improvements in energy efficiency were almost always overcome by economic growth, which resulted in a net increase in resource use and associated contamination.

3 0
3 years ago
When the production process is complete in process costing, the completed goods and the accumulated costs are transferred across
alukav5142 [94]

Answer:

A debit to the Finished Goods Inventory account and a credit to the Work in Process account for the final department in the series of process

Explanation:

In the case when the process related to the production is finished so the completed goods and accumulated profits could be transferred

So, the following should be the journal entry

Finished goods inventory XXXXX

          To Work in Process Inventory - Final dept XXXXX

(Being the production process is completed recorded)

Here the finished goods is debited as it increased the assets and credited the work in process as it decreased the assets

3 0
3 years ago
In the circular flow model, households provide<br> to firms. This is represented by the letter A.
Lana71 [14]

Households would provide factors of production to firms.

  • The circular flow demonstrates the movement of money in the economy.
  • The two-sector model of circular flow comprises households and firms.
  • Money first flows from producers to households in return for production services in the form of wages.  
  • Finally, return to producers back in the form of payment for the purchase or expenditure made by households.

<h2>What do you mean by circular flow of money?</h2>
  • The circular flow model demonstrates how money moves through society.
  • Money flows from producers to workers as wages and flows back to producers as payment for products.
  • In short, an economy is an endless circular flow of money.

<h2>What are the two types of circular flow?</h2>

There are two types of circular flow:

  • Real flow: The term real flow means the flow of factor services from households to firms.
  • Similarly, the flow of goods and services from firms to households.
  • Money flow: The money flow refers to the flow of factor payments from firms to households for factor services.

Learn more about the circular flow of money here:

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5 0
2 years ago
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