8. The arguments for restricting trade Suppose there is a policy debate regarding the United States imposing trade restrictions on imported steel rods: The president of the United States argues that the government should impose a tariff on steel rods because they are a necessary input into the production of various weapons. Free trade would make the United States overly dependent on foreign countries for the supply of steel rods. In case of a war, the United States might not be able to make or purchase enough steel rods and, therefore, would not be able to make enough weapons to defend itself. Which of the following justifications is the president using to argue for the trade restriction on steel rods? Foreign export subsidies argument Infant industry argument Low foreign wages argument National defense argument Saving domestic jobs argument

In a macroeconomic context, what are implicit liabilities? money owed to people possessing government issued bonds. the amount of money that firms collectively owe to shareholders. money that the government has promised to pay in the future. payments that the federal government undertakes only during periods of recession. which of the choices is a significant implicit liability in the united states? military spending education spending national science foundation spending social security

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Summarize the specific methods used by interest groups in order to influence governmental decisions making in all three branches of government. provide at least two examples from each branch.