All categories

3 years ago

The main purpose of most tariffs and quotas is to

1 answer:

jeka943 years ago

5 0

Answer: The main purpose of most tariffs and quotas is to reduce the foreign competition that domestic firms face.

Explanation: A tariff is a tax on imports and a quota is the quantity imported that is allowed. By putting a tax and quantity limit on imports, the United States is hoping to make more room for domestic products to be bought and sold. When items are imported from other countries, even with the tax they are usually cheaper than making them in house. By imposing the tax, they are trying to offset the cheap labor and make the items in the domestic country have a fighting chance. This is also said about quantity limit, if there wasn't a quantity on what may be imported, there would be too few firms able to compete.

You might be interested in

Cho owns and operates a store in a country experiencing a high rate of inflation. In order to prevent the value of money in her

Ber [7]

Answer:

Shoe leather costs

Explanation:

(A) Shoe leather costs

(B) Inflation can be defined as the persistent rise in the prices of goods and services. Shoe leather costs can be defined as the costs of time and effort that are encountered by individuals while trying to prevent the effect of inflation. It describes the costs incurred by individuals that visits the bank often inorder to withdraw money needed to purchase goods and services during the time of inflation.

Shoe leather cost arises during the period of high inflation, individuals do not hold large amount of cash because there will be a reduction in the value of the money.

5 0

3 years ago

Which of the following accounts would not appear on a schedule of cost of goods manufactured?

kotykmax [81]

The following accounts would appear on a schedule of cost of goods manufactured- Depreciation of factory equipment

Explanation:

The cost of goods manufactured (COGM) schedule is used to calculate the cost of all the items produced during a given reporting period.

The cost of good manufactured schedule gives companies an idea about their production cost(i.e whether it is too high or low) in relation to the sales they are making

The formula to calculate the COGM is:

Add: Direct Materials Used

Add: Direct Labor Used

Add: Manufacturing Overhead

Add: Beginning Work in Process (WIP) Inventory

Deduct: Ending Work in Process (WIP) Inventory

= COGM

7 0

3 years ago

The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on

daser333 [38]

Answer:

1. Determine the total compensation cost pertaining to the restricted stock.

30 million x $14 = $420 million

2. Prepare the appropriate journal entries

December 31, Year 1:

Dr Stock compensation expense 105,000,000

Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 2:

Dr Stock compensation expense 105,000,000

Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 3:

Dr Stock compensation expense 105,000,000

Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 4:

Dr Stock compensation expense 105,000,000

Cr Additional paid in capital - restricted stock 105,000,000

January 1, Year 4, the stocks are handed out:

Dr Additional paid in capital - restricted stock 420,000,000

Cr Common stock 420,000,000

6 0

3 years ago

The Financial Accounting Standards Board has the authority to develop generally accepted accounting principles. Choose the optio

olga2289 [7]

Answer:

Explanation:

Based on the information provided within the question it can be said that the correct steps that are used by the FASB in developing GAAP (generally accepted accounting principles) would be the following: issuing a discussion memorandum, issuing an exposure draft, and issuing a statement of principle. This collection of accounting rules was then adopted by the U.S. Securities and Exchange Commission.

4 0

3 years ago

Cogswell Corporation is considering how to price their patented mega-cogs. It knows that if it prices each widget at $50 then th

allsm [11]

Answer: $25

Explanation:

Total revenue, at price = $50

Total revenue = price × units sold

= $50 × 0

= 0

Total revenue, at price = $45

Total revenue = price × units sold

= $45 × 1

= $45

Total revenue, at price = $40

Total revenue = price × units sold

= $40 × 2

= $80

Total revenue, at price = $35

Total revenue = price × units sold

= $35 × 3

= $105

Marginal revenue of third unit = $\frac{Change\ in\ total\ revenue}{change\ in\ units\ sold}$

= $\frac{105 - 80}{3 - 2}$

= $25

5 0

2 years ago