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Barriers To Trade Quiz 2 (25 MCQs)

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1. Why do countries impose barriers to trade such as quotas?
2. The US can only import 3 tons of coffee from Brazil each month.
3. Which of the following countries has the least freedom to do business?
4. Workers and their abilities, talents, training, skills, and knowledge used to produce goods or services is called _____
5. The European Union enforces a limit of knit fabrics imported from China.
6. Company XYZ produces cheese in Scotland and exports the cheese, which costs $ 100 per pound, to the U.S. A 20% tax would require company XYZ to pay the United States government $ 20 to export the cheese
7. What increases an country's GDP?
8. A system of trade policy that allows the free exchange of goods between countries. Usually means no tariffs or trade barriers. This is a definition of _____
9. One of the effects of a _____ is that it causes the prices of goods to increase.
10. Which of the following BEST describes the relationship between literacy and poverty in Latin America and elsewhere?
11. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year. Is this a(n) _____
12. Which of the following trade barriers is a block or restriction on trade with another country.
13. Is the sale of a product in another country at a price lower than in the home market
14. A command economy occurs when the _____ is in control of all economic decisions.
15. In 2011, the United States Department of Agriculture increased its annual sugar-import limit to 1.6 million tons for the year. This is a(n) _____
16. East Germany was not allowed to buy from West Germany during the Cold War.
17. The amount of goods and services available per person in an economy.
18. A country's self-imposed restriction on exports.
19. A country might place a limit or _____ on another country to weaken their economy.
20. Which country is it hardest to start a business in?
21. Trade between parties that is not forced
22. An auto parts store only selling auto parts is an example of
23. In 2012, the United States Commerce Department announced that it would impose a tax ranging from 2.9% to 4.7% on Chinese made solar panels. This is a(n) _____
24. The total dollar amount of all final goods and services produced in a country in a year.
25. Free Trade agreement between the United States, Canada, Mexico Came into effect in 1994
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