Ad valorem tariffs are - Study guides, Class notes & Summaries

What are the advantages of a mixed economy? - Answer mirror those of the market economy in that goods and services are distributed where they are most needed. Prices are set by supply and demand, innovation is encouraged, and capital is allocated to the businesses that are the most innovative and efficient. A mixed economy minimizes the disadvantages of a market economy by having a more significant role for government intervention in the market. What are the disadvantages of a mixed econom...

BUSI 3250 Exam 2 | Verified with 100% Correct Answers Nationalization is also called Expropriation the taking of private property by a government to make it public Nationalization US Government took over ownership of what company during crisis of ? GM the selling of government owned property to the private sector to gain more efficiency in business operations, to raise money or to change in political climate/philosophy Privatization (why governments sell businesses) Protect the economic activi...

Common Law - ANSWER-Judges interpret the law, and judicial rulings can set precedent Religious Law - ANSWER-Is based on religious guidelines Customary Law - ANSWER-Can vary from community to community and is found in countries without strong formal justice systems Canon Law - ANSWER-This system is the body of laws and regulations made by a religious authority governing communities Special Drawing Rights - ANSWER-The international type of monetary reserve currency created by the IMF TRIP...

incubator An established business that provides resources, such as money, technology, office space, or marketing, in exchange for equity ownership in a new business The first step in the Accounting Cycle Examine source documents Materiality Principle The measure of importance of a misstatement in accounting records is Generally Accepted Accounting Principles (GAAP) low level managers Typically a first-line management position, such as team leader or supervisor, a person in charge of sma...

Chapter 03 Business in a Borderless World True / False Questions 1. International business involves the buying, selling, and trading of goods and services across national boundaries. True False 2. Nations trade with other nations to obtain resources that would otherwise be unavailable to them. True False 3. Importing is the sale of goods and services to foreign markets. True False 4. When a nation imports more than it exports, it has a pos...

Test Bank For American History: Connecting with the Past All ChaptersTest Bank For American History: Connecting with the Past All Chapters 1. The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on individuals. *a. True b. False 2. Before the Sixteenth Amendment to the Constitution was ratified, there was no valid Federal income tax on individuals. a. True *b. False 3. The first income tax on individuals (aft...

Business ethics - accepted principles of right or wrong governing the conduct of business people Ethical strategy - A course of action that does not violate a company's business ethics Ethical Issues in International Business - Employment practices Human Rights Environmental pollution Foreign Corrupt Practices Act - US law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions Convention on combating Br...

Acquisition correct answersJapanese car manufacturer acquires Italian producer of car tires AD VALOREM TARIFFS correct answersLevied as a proportion of the value of the imported good ADAM SMITH correct answerswas the author of The Wealth of Nations in which it is stated that an individual who intends his own gain is led by an invisible hand to promote an end that was not part of his intention. Countries should specialize in production of goods that they have an absolute advantage ABSOLU...

ECON 333 Exam 2 Practice Exam Latest Verified Review 2023 Practice Questions and Answers 100% Correct with Explanations Paper Midterm Fall For Exam Preparation Highly Recommended Graded A+ 1. If Canada imposes a tariff on coffee and if no coffee is grown in Canada, this tariff: A. has only protective effects. B. has no revenue effects. C. would be considered a pure revenue tariff. D. all of the above are correct. 2. Trade adjustment assistance (TAA) A. provides transfer payments...

absolute quota correct answer: Quota that strictly limits the quantity of goods that may enter a country acquisition correct answer: The act of taking over ownership or controlling a business Ad valorem tariffs correct answer: Import taxes based on a fixed percentage of the assessed commercial value of imported goods antitrust laws, antimonopoly laws, competition laws correct answer: Consumer protection policy used to limit unfair business practices related to competition and contro...