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Barriers To Trade Quiz 6 (20 MCQs)

Quiz Instructions

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1. When people or nations produce a smaller amount of goods and services than they consume
2. Why was the European Union was created?
3. When a country refuses to trade with others it is participating in a trade .....
4. The total dollar amount of all final goods and services produced in a country in a year divided by the country's population.
5. Russia's economy is .....
6. The United Nations has decided to limit the amount of equipment that can be sold to Iran for making nuclear fuel. This is an example of what trade barrier?
7. Goods and services a country produces and sells to other countries
8. A limit on a specific imported (foreign) good
9. U.S. State Department officials confirm that the current administration has decided to continue the prohibition of all U.S. trade with Cuba.
10. Japanese auto firms agree to limits set in Washington, D.C. on the number of Japanese automobiles that may be sold in the United States.
11. Which event would MOST LIKELY cause a decrease in the market price for cherries?
12. In June of 2013, the European Union described to lift restrictions of the trade of weapons to Syrian rebels. This is a(n) .....
13. A person who takes a change by opening a business
14. 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 an example of which trade barrier?
15. These two countries created the European Union to keep European countries from creating war against one another
16. What is the purpose of NAFTA?
17. The amount of a resource, good, or service sellers are willing to sell at possible prices is .....
18. Rules used to try to slow or limit trade with other countries
19. The resources used to produce a good and service are .....
20. Which effect is the MOST LIKELY result of a free trade agreement between countries?
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