Trade Barriers

Question 1

Which type of incentive makes it more profitable to follow a certain course of action?

Question 2

Which best describes how standards help domestic producers?

Revolt · Accepted Answer

Standards require goods to meet basic requirements.

Question 3

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

Revolt · Accepted Answer

Cuba

Question 4

importeddomestic

Revolt · Accepted Answer

imported

Question 5

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

Revolt · Accepted Answer

negative incentive and tariff.

Question 6

What do quotas and embargoes have in common?

Revolt · Accepted Answer

They both set limits on imported goods.

Question 7

What is the purpose of quotas?

Revolt · Accepted Answer

to limit how much of a good can be imported

Question 8

Which best describes what a subsidy does?

Revolt · Accepted Answer

It keeps the price of domestic goods relatively low.

Question 9

How do quotas help domestic producers?

Revolt · Accepted Answer

Quotas facilitate the sale of more domestic goods.

Question 10

What is the government’s aim in setting quotas?

Revolt · Accepted Answer

to increase sales of domestic goods

Trade Barriers Answers