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Barriers To Trade Quiz 2 (30 MCQs)

Quiz Instructions

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1. Argentina increased taxes to 9% on the import of milk powder after record levels of imports and fears Argentina farmers would suffer falling incomes. This is a(n) .....
2. Why do countries impose barriers to trade such as quotas?
3. The US can only import 3 tons of coffee from Brazil each month.
4. Which of the following countries has the least freedom to do business?
5. In 1973, many Middle Eastern countries stopped exporting oil to the United States in protest against the US' support of Israel. What type of trade barrier is this?
6. Rules used to try to limit trade with other countries
7. Which of the following is not a benefit of trade between nations?
8. Workers and their abilities, talents, training, skills, and knowledge used to produce goods or services is called .....
9. The European Union enforces a limit of knit fabrics imported from China.
10. A focus on developing only certain skills or producing only certain goods/services
11. The European Union has encouraged all of the following EXCEPT
12. 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
13. What increases an country's GDP?
14. 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 .....
15. One of the effects of a ..... is that it causes the prices of goods to increase.
16. The policy of imposing duties or quotas on imports in order to protect home industries from overseas competition.
17. Goods and services brought in from other countries
18. Goods or services that a country buys from other nations.
19. Which of the following BEST describes the relationship between literacy and poverty in Latin America and elsewhere?
20. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year. Is this a(n) .....
21. Which of the following trade barriers is a block or restriction on trade with another country.
22. All of these restrict international trade EXCEPT
23. Is the sale of a product in another country at a price lower than in the home market
24. A command economy occurs when the ..... is in control of all economic decisions.
25. 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) .....
26. East Germany was not allowed to buy from West Germany during the Cold War.
27. Why would a country impose a tariff or quota on imported goods?
28. The amount of goods and services available per person in an economy.
29. A country's self-imposed restriction on exports.
30. A country might place a limit or ..... on another country to weaken their economy.
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