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Barriers To Trade Quiz 5 (25 MCQs)

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1. Most European countries are what type of economy?
2. Which U.S. trade policy would encourage imports of foreign cars?
3. Japan mainly produces electronics & automobiles. This is an example of:
4. In 2010, China placed a tax on imported American poultry of up to 105.4%. This is an example of a
5. What what was the original purpose of the EU?
6. Which of the following nations is NOT included in NAFTA?
7. The combination of a command and a market economy is _____
8. This type of economy is heavily built on subsistence agriculture.
9. Business (run by private citizens) determine what goods/services are produced and how they will be made.
10. NAFTA was signed by the three countries in
11. Government payments to exporters. This payment helps reduce an exporter's cost of production.
12. How do quotas protect domestic producers?
13. Which Communist Latin American Country is now opening up to tourism?
14. A tariff is a _____
15. Which European country currently has the strongest economy?
16. The United State prohibits all trade with Cuba. This is an example of the following trade barrier:
17. Goods and services produced in a country outside of one's home country
18. Cuba enforced a limit of knit fabric imports from China. This is an example of what type of trade barrier?
19. One benefit of _____ is that it protects locals from cheaper foreign goods.
20. The EU sets rules/laws that its members must follow. Which country has decided they do not want to have these rules for their country?
21. Why do some economies in the Middle East use parts of a traditional economy?
22. What are some examples of trade barriers?
23. What is the purpose of monetary exchange rates?
24. In 1990, the Japanese Government announced it would extend its voluntary limit on automobile exports to the United States. This is an example of which trade barrier?
25. In 1962, the United States prohibited all imports and exports to and from Cuba. This is an example of which trade barrier?
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