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Barriers To Trade Quiz 2 (20 MCQs)

Quiz Instructions

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1. If you wanted to keep a dangerous product out of your country, what type of economic trade barrier could you use?
2. In general, what effect does a quota have on the prices of comparable goods in the domestic market?
3. Used to be a main source of income for the government. Now only a small percentage.
4. In 2010, China placed a tax on imported American poultry of up to 105.4%. This is an example of which trade barrier?
5. A tax on imported goods is .....
6. What is the agreement between Mexico, Canada, and the United States that eliminated most trade barriers and increased trade?
7. An economic system that is based off of customs and beliefs is called what term below?
8. Which of the following in a PHYSICAL trade barrier?
9. To concentrate on and become an expert in a particular area
10. The main justification for an embargo on foreign goods is to
11. 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) .....
12. Why do countries impose barriers to trade such as quotas?
13. The US can only import 3 tons of coffee from Brazil each month.
14. Which of the following countries has the least freedom to do business?
15. 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?
16. Rules used to try to limit trade with other countries
17. Which of the following is not a benefit of trade between nations?
18. Workers and their abilities, talents, training, skills, and knowledge used to produce goods or services is called .....
19. The European Union enforces a limit of knit fabrics imported from China.
20. A focus on developing only certain skills or producing only certain goods/services
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