Barriers To Trade Quiz 8 (8 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. The European Union added a new tax on all coffee imported from Colombia.

Correct Answer: A) Tariff.

2. What is characterization?

Correct Answer: C) There is no such thing as a characterization trade barrier.

3. When a country prohibits (does not allow) trade or commerce with another country.

Correct Answer: C) Embargo.

4. An economic system that is based on supply-and-demand is called what term below?

Correct Answer: A) Market Economy.

5. This trade barrier is used in hopes of getting the attention of a harsh/dangerous government to make a change

Correct Answer: C) Embargo.

6. Which method of protection would government be most likely to use to increase the country's exports?

Correct Answer: D) Subsidies.

7. Russia refuses to import goods from Moldova.

Correct Answer: C) Embargo.

8. Which country is not a part of the European Union?

Correct Answer: A) Switzerland.