AnswersEconomicsTrade Barriers

Trade Barriers — Quiz Answers

18 verified answers2 views
1
Free Preview

Often duties and taxes are imposed on cars that are imported from other countries. What types of incentives are these duties and taxes?

A
positive incentive and subsidy.
B
positive incentive and tariff.
C
negative incentive and subsidy.
D
negative incentive and tariff.
2
Free Preview

Which group directly benefits from subsidies?

A
producers
B
sellers
C
exporters
D
importers
3

Which best describes what a subsidy does?

A
It encourages the import of foreign goods.
B
It raises the price of imported goods.
C
It keeps the price of domestic goods relatively low.
D
It eliminates all taxes on domestic goods.
4

On which country has the United States imposed an embargo since 1960?

A
North Korea
B
Iran
C
Syria
D
Cuba
5

How are subsidies similar to tariffs?

A
Both are types of taxes.
B
Both aim to lower the price of domestic goods.
C
Both are types of tax breaks and financial assistance.
D
Both allow domestic goods to compete against foreign goods.
6

Which type of trade barrier is explicitly used for political purposes?

A
standards
B
tariffs
C
embargoes
D
quotas
7

What is the purpose of quotas?

A
to ban all imports from a country
B
to ensure specific goods are not available to consumers
C
to limit how much of a good can be imported
D
to keep prices on domestic goods low
8

How do embargoes most negatively affect a domestic market?

A
by preventing domestic producers from trading needed goods with all countries
B
by depriving domestic producers of needed goods, restricting their ability to trade
C
by encouraging international producers to sell new goods for lower prices than domestic goods
D
by helping international producers fill a market void, decreasing domestic trade
9

Often duties and taxes are imposed on cars that are imported from other countries. What types of incentives are these duties and taxes?

A
positive incentive and subsidy.
B
negative incentive and tariff.
C
negative incentive and subsidy.
D
positive incentive and tariff.
10

On which country has the United States imposed an embargo since 1960?

A
Syria
B
Cuba
C
Iran
D
North Korea
11

What is the government’s aim in setting quotas?

A
to create more competition in the market
B
to limit export of domestic goods
C
to increase sales of domestic goods
D
to keep tariffs high
12

Which group directly benefits from subsidies?

A
producers
B
importers
C
exporters
D
sellers
13

How do embargoes most negatively affect a domestic market?

A
by preventing domestic producers from trading needed goods with all countries
B
by encouraging international producers to sell new goods for lower prices than domestic goods
C
by helping international producers fill a market void, decreasing domestic trade
D
by depriving domestic producers of needed goods, restricting their ability to trade
14

What is the purpose of quotas?

A
to ensure specific goods are not available to consumers
B
to limit how much of a good can be imported
C
to keep prices on domestic goods low
D
to ban all imports from a country
15

Which type of trade barrier is explicitly used for political purposes?

A
standards
B
tariffs
C
quotas
D
embargoes
16

Which best describes what a subsidy does?

A
It eliminates all taxes on domestic goods.
B
It encourages the import of foreign goods.
C
It raises the price of imported goods.
D
It keeps the price of domestic goods relatively low.
17

How do quotas help domestic producers?

A
Quotas limit the number of producers that compete in a sector.
B
Quotas facilitate increased exports of domestic goods.
C
Quotas lower the cost of domestic goods.
D
Quotas facilitate the sale of more domestic goods.
18

How are subsidies similar to tariffs?

A
Both aim to lower the price of domestic goods.
B
Both are types of taxes.
C
Both allow domestic goods to compete against foreign goods.
D
Both are types of tax breaks and financial assistance.

Did you find these answers helpful?

More from this Course

Quiz
18 verified answers

Quiz

Quiz
27 verified answers

Quiz

Quiz
22 verified answers

Quiz