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Economics- Trade
Test Description: Economics
Instructions: Answer all questions to get your test result.
1) Only 3000 pairs of American blue jeans can enter Spain.
A
example of a tariff
B
example of a physical barrier
C
example of a quota
D
example of an embargo
2) The USA charges an extra 10 cents per pound on bananas from Costa Rica.
A
an example of a tariff
B
an example of an embargo
C
an example of a natural trade barrier
D
an example of a quota
3) No Brazilian beef can be sold in Spain.
A
an example of an embargo
B
an example of a quota
C
an example of a physical barrier
D
an example of a tariff
4) Only 100,000 barrels of oil can be delivered from Saudi Arabia to Germany this month.
A
an example of a natural trade barrier
B
an example of a tariff
C
an example of an embargo
D
an example of a quota
5) $$$ tax on imported goods.
A
tariff
B
natural trade barrier
C
quota
D
embargo
6) Limit on the quantity of an imported good.
A
natural embargo
B
embargo
C
tariff
D
quota
7) STOP on all trade with another country’s government. This may be due to a health hazard or to put pressure on a government.
A
quota
B
embargo
C
tariff
D
natural trade barrier
8) What does NAFTA stand for?
A
North America Free Trade Agreement trade agreement between Mexico, United States, and Canada.
B
North Africa Foreign Tax Agenda
C
Northern Australia Foreign Tariff Action
D
Northern Africa Facts Toward Agression
9) What best describes a trade embargo?
A
A trade embargo forbids trade with another country.
B
A trade embargo places a tax on imported goods.
C
A trade embargo allows a country to freely sell goods to another.
D
A trade embargo allows a certain amount of a product into a country.
10) What does a quota limit?
A
Amount
B
People
C
Time
D
Quality
11) In which sentence is tariff used correctly?
A
A tariff was added to the Chinese imports.
B
American citizens are required to pay a tariff at the airport.
C
The state of Georgia charges a tariff to South Carolina
D
All states charge a tariff.
12) What are three types of trade barriers?
A
Natural resource, capital resource, tariff
B
people, nature, weather
C
Nature, Manufacturing, quota
D
Embargo, quota, tariff
*select an answer for all questions
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