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Barriers To Trade Quiz 7 (25 MCQs)

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1. Trade of goods without being forced to do so
2. Businesses make economic decisions, but the government regulates the businesses to make sure they're safe and fair.
3. A complete ban on trade between 2 countries
4. What do trade barriers do?(Main purpose)
5. A limit on imported goods is _____
6. Exchanging goods, services, or for other goods, services, or resources; or for money
7. Japanese auto firms, in Washington D.C., agreed to set limits s on the # of Japanese cars that may be sold in the U.S.
8. What is the most basic economic problem?
9. Cuba is close to having this type of system.
10. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year. This is an example of which trade barrier?
11. Brazil restricted all imports of aluminum from Canada. This is an example of what kind of trade barrier?
12. In 2006, the United Nations passed a Resolution that prohibits states from directly or indirectly supplying North Korea with conventional weapons (battle tanks, artillery, aircraft, missiles, etc.) This is an example of which trade barrier?
13. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year
14. When a country or individual produces a single product that they are good at producing.
15. What would be the MOST important factor in deciding what job you would have if you lived in a traditional economy
16. The ability of an individual or group to carry out a particular economic activity more efficiently than another activity
17. A trade barrier that limits imported goods is called what?
18. Which of the following is NOT a purpose of the EU?
19. Which of the following is NOT usually an effect of increased literacy?
20. Which of the following is NOT true about subsidies?
21. A tax or fee placed on imported (foreign) goods
22. In 2010, China announced that it would impose and import a tax on American poultry of up 105.4 percent. This is a(n) _____
23. In 2006, the United Nations Security Council unanimouslyadopted a resolution to restrict the export to and the import from Iran on certain items and technology potentially related to nuclear weapons. This is a(n) _____
24. The European Union limits the amount of imported aluminum from Canada.
25. Argentina increased taxes to 9% on the import of milk powder after record levels of imports and fears Argentina farmers would suffer falling incomes.
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