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Tanya [424]
2 years ago
10

Politicians often argue for tariff increases in order to reduce the nation's dependence on imports. If tariffs are increased, th

e long-run effect is most likely to be: an increase in American imports, and a decrease in American exports. an decrease in American imports, and an increase in American exports. an increase in both American imports and exports. a decrease in both American imports and exports.
Business
1 answer:
Helen [10]2 years ago
5 0

Answer:

a decrease in both American imports and exports.

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

Some examples of trade barriers are import license, quotas, subsidies, embargo, currency devaluation, local content requirements, tariffs, etc.

A tariff can be defined as tax levied by the government of a country on goods and services imported from another country.

A tariff increase usually reduce the nation's dependence on imports.

Hence, if tariffs are increased, the long-run effect is most likely to be a decrease in both American imports and exports.

You might be interested in
Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods
eimsori [14]

This is the full question:

At the beginning of 2016, Air Asia purchased a used airplane at a cost of $40,000,000. Air Asia expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,000,000. Air Asia expects the plane to be flow 1,200,000 the first year and 1,400,000 the second year.

1) Compute second-year (2017) depreciation expense using the following methods

a. Straight-line

b. Units-of-production

c. Double-declining-balance

2) Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods:

Answer:

Explanation:

1)a) Straight-line

Depreciable base = Cost of the Asset - Residual Value

                              = $40,000,000 - $5,000,000

                              = $35,000,000

Depreciation expense per year = Depreciable base / years of useful life

                                                     = $35,000,000 / 8

                                                     = $4,375,000

The depreciation expense for the second year is = $4,375,000

                                                                                       

b) Units-of-production

Units of Production Rate = Depreciable Base / Units Over Useful Life

                                        = $35,000,000 / 5,000,000 miles

                                        = 7

Depreciation Expense = Units of Production Rate x Actual Units Produced

                                      = 7 x 1,400,000 miles in the second year

                                      = $9,800,000

c. Double-declining-balance

Double-declining balance = 2 x (Asset Cost - Residual Value ) / Useful Life of the Asset

                                           = 2 x ($40,000,000 - $5,000,000) / 8

                                           = $8,750,000

2) a) Straight-line Accumulated depreciation

We simply multiply the previous answer by two = $4,375,000 x 2

                                                                              = $8,750,000

2) b) Units-of-production Accumulated depreciation

First we find the depreciation expense for the first year using the same formula as above

= 7 x 1,200,000

= $8,400,000

Finally we simply add up depreciation expense for the two years

= $8,400,000 + $9,800,000

= $18,200,000

2) c) Double-declining-balance Accumulated depreciation

We simply multiply the first result by two = $8,750,000 x 2

                                                                    = $17,500,000

                                       

                           

5 0
3 years ago
Cadilengy, a nonprofit organization, is conducting a food fair in the month of October. The proceeds of this fair will go to cha
Viktor [21]

Answer: (A) Event marketing    

Explanation:

 The event marketing is one of the business promotional strategy in which the various types of brands, products and the services are get promoted in the market so that the customers or users are get aware about the specific brand and the new products.  

 According to the given question, the Event marketing is one of the type of strategy that best illustrating the given scenario about a non profit organization is conduct a food fair and the collected fair is basically contributed for the charity purpose.

On the other hand, along with charity the various types of restaurants distribute their pamphlets and promote their restaurants business in the event. Therefore, Option (A) is correct answer.    

8 0
3 years ago
On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $750,000 and $325,000, respecti
cupoosta [38]

Answer:

Journal entry to record the Sale of Patent

Debit : Cash $750,000

Credit : Patent at Book Value $120,000

Credit : Profit and Loss $630,000

Journal entry to record the Sale of Equipment

Debit : Cash $325,000

Debit : Profit and loss $75,000

Debit : Accumulated depreciation $150,000

Credit : Equipment at Cost $550,000

Explanation:

During a sale transaction the entity recognizes 1. The Cash Proceeds resulting from the sale, 2. The Profit or loss resulting from the sale, 3.The entity derecognizes the Cost or Book Value of the Asset as well as the Accumulated depreciation.

A profit of $630,000 has been earned as a result of the sale of the Patent, whereas a loss of $75,000 has been incurred as a result of sale of Equipment.

8 0
3 years ago
Tell me about a time you were able to understand someone else's viewpoint that differed from your own. Describe the situation, y
RoseWind [281]

Answer:

<h3>"I have felt dissatisfied on the job when I feel underpaid and overworked. I don't mind working hard at all, but I don't like to feel as though I'm being taken advantage of." "When I see success few and far between, it is very unmotivating for me. I am a hunter and a true salesperson</h3>

7 0
3 years ago
The best way to select a career is to research which one makes the most money. Please select the best answer from the choices pr
IgorC [24]

Answer:

FALSE

Explanation:

below are some important tips or guidelines that you should follow to choose the right career and be happy for the rest of your life.

<u><em>Know Your Strengths </em></u>

Every one of us has some strengths – and some weaknesses. The point is to find out what you are really good at. Are you good at telling stories? Do you find it easy to coach other writers? Do you love teaching students? There must be something that you feel passionate about and are good at doing. You need to find out what those skills and strengths are.

Create a list of skills that you have, and then pick the strongest skills from that list. Consult your friends or family for an outer perspective. If you play by your strengths, you’ll enjoy a great professional life.

<u><em>Discover Your Personality Type </em></u>

You might have heard about Myers-Briggs. It’s an introspective self-report questionnaire which helps you find out what type of personality you have. Different persons have different types of personalities; someone could be an introvert and someone else could be an extrovert. By knowing your personality type, you’ll be able to find out what type of work environment will suit you best.

<u><em>Take a Career Test </em></u>

If you are confused deciding which career is right for you, you can also go for a career test. Typically, a career test presents you with a set of questions which you need to answer in the given time-frame. A career test is aimed at assessing your skills and strengths and then suggest a career that is a good match. Once you have finished answering all the questions, you’ll be provided with 2-3 career options that suit you best and promise a satisfying life.

On the internet, you’ll find a number of career tests that you can complete within a few minutes. Many of them are free.

<u><em>Seek Advice from Others </em></u>

No matter where you live, you’ll always have people who are already employed, expert in a particular field or have more professional experience. Feel free to get in touch with these people and talk about your aspirations. Gather information about different occupations and industries. Ask them for advice that you can use for choosing a career that’s best for you.

<u><em>Work as an Intern </em></u>

Internships provide you with an excellent opportunity to lay the foundation of your career. The experience of actually working in the real world is something that you should never ignore. Working as an intern helps you find out how being in a particular job feels like, whether the work environment is up to your taste and how you get along with people in the workplace.

Internships are also highly recommended for building connections with professionals and gaining work experience that can add extra weight to a resume. An internship can be either paid or unpaid.

5 0
4 years ago
Read 2 more answers
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