Economics- Trade Question Preview (ID: 26272)


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Only 3000 pairs of American blue jeans can enter Spain.
a) example of an embargo
b) example of a quota
c) example of a tariff
d) example of a physical barrier

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

No Brazilian beef can be sold in Spain.
a) an example of a physical barrier
b) an example of a tariff
c) an example of a quota
d) an example of an embargo

Only 100,000 barrels of oil can be delivered from Saudi Arabia to Germany this month.
a) an example of a quota
b) an example of a tariff
c) an example of a natural trade barrier
d) an example of an embargo

$$$ tax on imported goods.
a) quota
b) tariff
c) embargo
d) natural trade barrier

Limit on the quantity of an imported good.
a) quota
b) tariff
c) embargo
d) natural embargo

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) tariff
c) embargo
d) natural trade barrier

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

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.

What does a quota limit?
a) Quality
b) Time
c) Amount
d) People

In which sentence is tariff used correctly?
a) A tariff was added to the Chinese imports.
b) All states charge a tariff.
c) American citizens are required to pay a tariff at the airport.
d) The state of Georgia charges a tariff to South Carolina

What are three types of trade barriers?
a) Embargo, quota, tariff
b) Natural resource, capital resource, tariff
c) Nature, Manufacturing, quota
d) people, nature, weather

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